Alstom: Oddo BHF confirms outperform rating
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Alstom shares, with an unchanged target price of E26.
Last night, Alstom reported Q3 2024/25 sales 4% ahead of expectations. Orders amounted to E4.26bn, bringing the book-to-bill ratio to 0.91x.
The biggest surprise in this publication comes from sales, which are up 9.8% organically on Q3 2023/24, with continued strong growth in services (+8.5%) and signalling (+5.5%), while rolling stock and systems are up 5% and 52.9% respectively, the analyst reports.
Oddo BHF raised its estimates by an average of 1%.
The weakness in orders this quarter was, in our view, largely anticipated, and does not call into question our book-to-bill target of >1 for the full year. Tensions in the supply chain are easing, which is good news, it concludes.
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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 a decision-making aid 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.
Last night, Alstom reported Q3 2024/25 sales 4% ahead of expectations. Orders amounted to E4.26bn, bringing the book-to-bill ratio to 0.91x.
The biggest surprise in this publication comes from sales, which are up 9.8% organically on Q3 2023/24, with continued strong growth in services (+8.5%) and signalling (+5.5%), while rolling stock and systems are up 5% and 52.9% respectively, the analyst reports.
Oddo BHF raised its estimates by an average of 1%.
The weakness in orders this quarter was, in our view, largely anticipated, and does not call into question our book-to-bill target of >1 for the full year. Tensions in the supply chain are easing, which is good news, it concludes.
Copyright (c) 2025 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 a decision-making aid 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.