Alstom: UBS maintains buy rating after results
(CercleFinance.com) - This morning UBS confirms its buy rating on the share of the railway equipment manufacturer Alstom, which this morning reported the accounts of non-calendar FY 2018/2019.
The broker has a 12-month target price of 45 euros, which suggests upside potential of around 14%.
The orders announced by the group at the end of its fiscal year have just exceeded expectations, the broker says in its report. Its order backlog reaches a record 40.5 billion euros, while its margin is in line with expectations.
One pleasant surprise: UBS says at the AGM the group will proposed a dividend of 5.50 euros (against just 0.35 euro for the previous fiscal year), after the sale of stakes in joint ventures with General Electric.
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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 broker has a 12-month target price of 45 euros, which suggests upside potential of around 14%.
The orders announced by the group at the end of its fiscal year have just exceeded expectations, the broker says in its report. Its order backlog reaches a record 40.5 billion euros, while its margin is in line with expectations.
One pleasant surprise: UBS says at the AGM the group will proposed a dividend of 5.50 euros (against just 0.35 euro for the previous fiscal year), after the sale of stakes in joint ventures with General Electric.
Copyright (c) 2019 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.