STMicroelectronics is down 3%, making it the red lantern of the CAC40 index, following a recommendation downgrade by Barclays from 'overweight' to 'in-line weighted', with a price target reduced from 50 to 46 euros.

"We still like the medium-term investment case for STMicro, but we're struggling in the short term, as we're below consensus and valuation isn't providing sufficient support at this stage", says the broker.

Furthermore, while maintaining its 'outperform' rating on the semiconductor manufacturer's stock, Oddo BHF has lowered its price target from €55 to €50, in the wake of fourth-quarter results that came in slightly below expectations.

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