Investing.com – NVIDIA (NASDAQ:)’s better-than-expected quarterly results give confidence to the entire semiconductor sector. Looking at Piazza Affari, the first stock that can benefit from this is STMicroelectronics (BIT:). At 10.30 the Italian-French company earned 0.70% compared to 38.8 euros per share the day before.
Since the beginning of the month, when it was trading at 36.27 euros, the stock has already gained almost 8% on the Milan Stock Exchange. The result, however, has not yet allowed it to recover the ground lost in the last year, in fact, in the 12 months the stock is down by more than 6%.
Furthermore, considering that Stmicro is a company active in the chip sector, Nvidia’s push, which also raised the outlook for the second quarter of 2024, can allow the stock to run a lot further.
Stmicro’s target price
In detail, based on what was estimated by the analysts interviewed by InvestingPro, STMMI can grow by a further 36.12% compared to the current 39.1 euros per share, up to 53.24 euros.
At the moment 17 analysts evaluate the stock with a “Buy” rating, while for 2 it is “Hold” and only for one “Sell”.
Here’s how to find the best Ftse Mib stocks
But Stmicroelectronics (EPA:) is not the only Ftse Mib stock currently worthy of investors’ attention.
With a search on the advanced screener of InvestingPro+ you can identify 6 other stocks in the top 40 of Piazza Affari with an upside potential of more than 20% according to the target price set by analysts.
Notably, the most undervalued stock on the list could rise more than 40%!
As the image below shows, if you are already a subscriber to InvestingPro+ you can find the complete list of securities by reproducing the same search in the advanced screener of your reserved area:
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