STMicroelectronics tops France, Italy indices after raised data center targets

STMicroelectronics NV

02/06/2026 08:30

** Shares of Franco-Italian chipmaker STMicroelectronics STMPA.PA rise 9.4% to €64.8 per share, topping France's CAC40 .FCHI blue-chip index as well as Italy's FTSE MIB .FTMIB
** The stock is trading at its highest levels since September 2000
** STMicro raised its data center revenue target to about $1 billion for 2026, up from a previous forecast of "nicely above" $500 million
** It said revenue could double again in 2027, compared with its earlier target of "well above" $1 billion
** "The company had already secured data center-related orders of over $1bn with around 2/3 from optical components earlier this year and was rapidly adding capacity to meet this unexpectedly high demand," Jefferies says in a note
** "The new guidance on AI likely results in estimates rising in both years though we would think that estimates will rise more in 2027 than in 2026," J.P. Morgan writes
($1 = 0.8585 euros)

(Reporting by Nathan Vifflin in Gdansk)
((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))