STMicroelectronics has been given a "Buy" rating by UBS, with a target price of 34 euros. The chip manufacturer's long-term targets have been delayed from 2027 to 2030 due to current market conditions.
Analyst Francois-Xavier Bouvignies believes that the market will wait for further signs of recovery before fully embracing the revised targets. This cautious outlook reflects the challenges faced by the semiconductor industry as it deals with fluctuating demand and economic uncertainties.