Embattled Chip Stock Pops on Jefferies Upgrade

Netherlands-based chip stock STMicroelectronics NV (NYSE:STM) is up 5.2% at $23.71 at last glance, after an upgrade from Jefferies to "buy" from "hold," with a price-target hike to €34 from €23. The firm expects growth in the second half of 2025, driven by several factors, including content within Apple’s upcoming iPhone 17 lineup. Separately, the company has been repurchasing its shares: 287,561 ordinary shares between Feb. 10 and Feb. 14. On the charts, STMicroelectronics stock has been climbing since its ...