UBS sets buy rating for STMicroelectronics with 34 euro price target

STMicroelectronics has been upgraded to a "buy" rating by UBS, with a target price of 34 euros per share. The semiconductor group's medium-term targets, announced during a recent capital market day, were deemed credible by analyst Francois-Xavier Bouvignies. Bouvignies also emphasized the importance of a short-term business recovery.

Currently, STMicroelectronics shares are trading at 23.03 euros, reflecting a decline of 1.12%. The company's performance in navigating current challenges and pursuing growth in the semiconductor sector is being closely monitored by the market.

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