On July 6, STMicroelectronics rose 3.49% in pre-market trading, trading at $70.46/share, with turnover of $1.2136 million. The rally was driven by a wave of target price upgrades from major international investment banks combined with a broad-based chip industry price increase cycle.

On the news front, several top-tier banks recently issued upgraded outlooks for STMicroelectronics: Jefferies raised its target from €74 to €82, HSBC raised its target from €53 to €84 while maintaining a Buy rating, JPMorgan significantly lifted its target from €48 to €71.5, and Bank of America Global Research raised its target to €88. Concurrently, approximately 20 global chip manufacturers collectively initiated a new round of price hikes effective July 1, with power semiconductors as the core category. STMicroelectronics had previously announced its second MCU price increase of the year, effective June 28, as mature-node capacity tightened and foundry costs rose by as much as 15%, reinforcing industry repricing expectations.

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