STM published a sound set of results for Q2, ahead of both guidance and estimates. Most importantly, the company provided strong Q3 guidance and revised upwards its FY20 guidance on the back of customer engagements and improved market conditions in Auto and Industry, as well as the build-up ahead of 5G-ready smartphone launches in H2. We maintain our positive view on the stock and we have raised our estimates by c. +11%.
23 Jul 2020
Q2 20: improving visibility driving FY guidance upwards
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Q2 20: improving visibility driving FY guidance upwards
STMicroelectronics NV (STMI:WBO) | 0 0 0.8%
- Published:
23 Jul 2020 -
Author:
Hugo Paternoster -
Pages:
3
STM published a sound set of results for Q2, ahead of both guidance and estimates. Most importantly, the company provided strong Q3 guidance and revised upwards its FY20 guidance on the back of customer engagements and improved market conditions in Auto and Industry, as well as the build-up ahead of 5G-ready smartphone launches in H2. We maintain our positive view on the stock and we have raised our estimates by c. +11%.