STMicroelectronics slips on Credit Suisse launch


Credit Suisse has started STMicroelectronics (STM -1%) at Underperform, and European chip peer Infineon (OTCPK:IFNNF +0.7%) at Outperform.

Bernstein downgraded STM to Underperform a month ago, predicting 2015 revenue growth will be 300 bps below consensus. Shares go for only 0.9x 2015E sales.

Infineon has rallied since announcing last week it's buying International Rectifier for $3B.

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Comments (1)
  • defunkdreader
    , contributor
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    We've heard plenty about how they will miss guidance. Is guidance really priced in at 1x trailing sales? 1x is the lowest multiple in the industry by a good amount...
    27 Aug 2014, 01:00 PM Reply Like
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