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Morgan Stanley downgrades STMicroelectronics to Underweight

Jan. 04, 2017 9:14 AM ETSTMicroelectronics N.V. (STM) StockSTMBy: Eric McCaffrey, SA News Editor16 Comments
  • Citing what the firm views as an overdone rally, analyst Francois Meunier moves from Equal Weight while raising target from €5.25 to €7. Considers main investor focus to be on discerning whether recent sales strength is attributable to structural improvements or cycle tailwinds, both of which firm sees indicators of, though not enough so to issue confidence based on current valuation.
  • STMicroelectronics (NYSE:STM) ADRs -2.19% pre-market to $10.74.

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