Alstom: UBS still neutral after quarterly results
(CercleFinance.com) - Alstom has announced its Q1 numbers.
UBS believes that the tone is confident and that the group is on track for margin expansion. It confirms its neutral recommendation on the stock, with a target price of E19.
Q1 orders and sales are unlikely to enthuse us, but management's tone on margin, order intake and the quality of cash generation point to a rebuilding of the investment plan, UBS says.
For FY 24/25, Alstom has confirmed its outlook of organic sales growth of around 5% and an adjusted operating margin of around 6.5%. The group adds that its medium- and long-term ambitions are 'confirmed'.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
UBS believes that the tone is confident and that the group is on track for margin expansion. It confirms its neutral recommendation on the stock, with a target price of E19.
Q1 orders and sales are unlikely to enthuse us, but management's tone on margin, order intake and the quality of cash generation point to a rebuilding of the investment plan, UBS says.
For FY 24/25, Alstom has confirmed its outlook of organic sales growth of around 5% and an adjusted operating margin of around 6.5%. The group adds that its medium- and long-term ambitions are 'confirmed'.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.