STMicro raised to equal weight at Barclays; PT 65 euros

On June 29, 2026, Barclays revised its rating for STMicroelectronics NV (NYSE: STM) to Equalweight from Underweight, while raising its price target to €65 from €20. This marks a significant shift in the firm’s outlook for the semiconductor manufacturer, which had previously expressed concerns about valuation and recovery. The updated rating reflects a more balanced view of STMicroelectronics’ prospects, particularly as the company continues to implement cost-saving initiatives and expand its wafer fabrication capabilities.

Barclays’ new price target is based on 12 times 2026 estimated P/E multiple, suggesting the firm now anticipates stronger earnings growth compared to earlier projections. The stock currently trades at a P/E of 11.2x, indicating it may still be undervalued relative to future earnings expectations.

The move comes amid a broader trend of analyst revisions, with several firms adjusting their ratings and price targets in recent months. Despite these changes, STMicroelectronics has demonstrated resilience in key markets, including 30% year-over-year microcontroller sales growth. Investors will be watching closely as the company prepares to release its full-year results on January 30, 2025.