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What’s in STMicroelectronics N.V. (STM) After Forming Bullish Double Top Pattern?

December 7, 2017 - By Louis Casey

The chart of STMicroelectronics N.V. (STM) shows a double top with $22.81 target or 7.00 % above today’s $21.32 share price. The 7 months chart pattern indicates low risk for the $18.80B company. It was reported on Dec, 8 by Finviz.com. If the $22.81 price target is reached, the company will be worth $1.32 billion more. Double tops are rare but powerful chart patterns.

The stock decreased 0.14% or $0.03 during the last trading session, reaching $21.32. About 3.87 million shares traded. STMicroelectronics N.V. (NYSE:STM) has risen 191.28% since December 8, 2016 and is uptrending. It has outperformed by 174.58% the S&P500.

Analysts await STMicroelectronics N.V. (NYSE:STM) to report earnings on January, 25. They expect $0.33 earnings per share, up 106.25 % or $0.17 from last year’s $0.16 per share. STM’s profit will be $290.98M for 16.15 P/E if the $0.33 EPS becomes a reality. After $0.28 actual earnings per share reported by STMicroelectronics N.V. for the previous quarter, Wall Street now forecasts 17.86 % EPS growth.

STMicroelectronics N.V. (NYSE:STM) Ratings Coverage

Among 11 analysts covering STMicroelectronics (NYSE:STM), 6 have Buy rating, 2 Sell and 3 Hold. Therefore 55% are positive. STMicroelectronics had 21 analyst reports since July 22, 2015 according to SRatingsIntel. The stock of STMicroelectronics N.V. (NYSE:STM) has “Buy” rating given on Wednesday, September 13 by Craig Hallum. The stock of STMicroelectronics N.V. (NYSE:STM) has “Underperform” rating given on Friday, September 2 by Bank of America. The rating was maintained by Craig Hallum on Thursday, October 26 with “Buy”. The stock has “Buy” rating by Stifel Nicolaus on Tuesday, June 27. Craig Hallum downgraded the shares of STM in report on Friday, October 30 to “Hold” rating. HSBC upgraded the shares of STM in report on Friday, July 24 to “Hold” rating. The stock of STMicroelectronics N.V. (NYSE:STM) has “Overweight” rating given on Tuesday, July 11 by JP Morgan. The stock of STMicroelectronics N.V. (NYSE:STM) has “Buy” rating given on Friday, October 14 by Craig Hallum. J.P. Morgan upgraded the shares of STM in report on Tuesday, July 11 to “Buy” rating. As per Monday, September 14, the company rating was maintained by Natixis.

More notable recent STMicroelectronics N.V. (NYSE:STM) news were published by: Livetradingnews.com which released: “STMicroelectronics NV (ADR) (NYSE:STM) Trading Outlook” on August 03, 2016, also Benzinga.com with their article: “Jim Cramer Advises His Viewers On STMicroelectronics And Applied Materials” published on August 09, 2017, Investorplace.com published: “Make Way for STMicroelectronics NV (ADR) (STM) Stock” on June 02, 2017. More interesting news about STMicroelectronics N.V. (NYSE:STM) were released by: Investorplace.com and their article: “STMicroelectronics NV (ADR) (STM) Stock Evolves to IoT Play As Sector Expands” published on July 21, 2017 as well as Livetradingnews.com‘s news article titled: “STMicroelectronics NV (ADR)(NYSE:STM) Bullish Trend” with publication date: September 07, 2016.

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