On July 27, STMicroelectronics NV rose over 5% in pre-market trading. On the news front, Berenberg significantly raised its target price for STMicroelectronics NV from 53 euros to 68 euros, representing an approximately 28% increase. The upgrade provides valuation support after the stock suffered an 18% selloff on July 23 when Q3 revenue guidance of $3.7 billion came in below analyst expectations of approximately $3.79 billion.

Despite the near-term guidance miss, the company's Q2 results exceeded expectations, with adjusted EPS of $0.31 beating the consensus estimate of $0.27 by 14.8%, and revenue of $3.49 billion rising 26% year-over-year. The CEO noted strong orders across all end markets, improving visibility, and supply tightness in multiple product categories. The company also raised its AI data center revenue target to over $1 billion and projected Q4 revenue exceeding $4 billion. Berenberg's upgrade reflects institutional confidence in the company's cyclical recovery trajectory and AI-driven growth prospects.

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