Jul. 24 at 11:58 AM
$STM STMicroelectronics price target lowered to
$55 from
$70 at TD Cowen
TD Cowen lowered the firm's price target on STMicroelectronics to
$55 from
$70 and keeps a Hold rating on the shares. The firm said they posted very solid results, but the stock was not priced for a revenue miss after its year-to-date run. They think the lack of near-term upside and slow path to 40% GM made for a tough post-print reaction.
