STOCKS | Citi Says STMicroelectronics Shares Already Price In Growth Expectations

Citi analysts said STMicroelectronics shares have already reflected a recovery in end markets and accelerating growth in data center revenue. According to Jin10, the analysts said the European chipmaker's second-quarter results and guidance were broadly in line with market expectations, helping the stock rise this year. Since January, STMicroelectronics shares have more than doubled, rising nearly 160%, and the analysts said the stock may face near-term resistance if expectations are not lifted today.