UBS has given STMicroelectronics a "Buy" rating with a target price of 34 euros after a recent capital market day. Analyst Francois-Xavier Bouvignies mentioned that the chip manufacturer"s long-term targets have been pushed back from 2027 to 2030 due to uncertain market conditions. Bouvignies suggested that investors may wait for further signs of recovery before embracing the revised targets.

The stock was trading at around 23.205 euros, showing a 0.43% decrease for the day. Different trading venues reported slight fluctuations, with prices ranging from 23.05 euros in Stuttgart to 23.52 euros in Munich.

STMicroelectronics is facing challenges in the current environment, and analysts are closely monitoring developments that could impact its performance and outlook.