Alstom: Oddo BHF still a buyer

(CercleFinance.com) - Oddo BHF confirms its "outperform" rating on Alstom shares, along with its target price of E34, pointing out that the transport equipment supplier has announced just over E2bn in orders since the beginning of July.


While acknowledging a somewhat weak H1 in orders, the analyst points out that the group said that orders would be more prominent in H2. Oddo BHF still forecasts a book-to-bill ratio in excess of one for the full year.

In analysts' opinion, Alstom is now out of crisis management. While challenges remain (margin recovery and FCF generation), the favourable environment (strong demand) is a major asset, which should not be underestimated, the broker adds.


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