UBS raised its price target for STMicroelectronics to €80.00 from €49.00. The bank reiterated its Buy rating on the semiconductor manufacturer.
Expected growth in photonics, AI power applications, and satellites drives the optimistic outlook. UBS projects these segments will generate $4.2 billion in revenue by 2028.
The bank forecasts 2027 earnings per share will be 25% to 30% above current market consensus.