Alstom: Oddo still a buyer after interim results
(CercleFinance.com) - Alstom has published FY 2018-19 figures in line with expectations (orders of 12.
1 billion euros, sales of 8.1 billion euros, adjusted EBIT of 570 million euros (margin of 7.1%) and net income of 681 million euros) and its own annual guidance (sales of approximately 8 billion euros, with a margin of about 7%).
The group's order backlog eaches 40.5 billion euros, which Oddo says a historical record. Following this publication, Oddo confirms its rating on the share, along with its target price of 42.50 euros.
The group's CEO and CFO were very confident in their ability to increase sales, profits and margins, as well as FCF, the broker says.
Oddo adds that short- and medium-term targets and detailed comments on the group's strategy will be communicated at the CMD on 24 June. Alstom said in its conference call that it is seeking "add-on" acquisitions, although is not aiming at big targets, with an apparent priority being services and signage, Oddo adds.
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.
1 billion euros, sales of 8.1 billion euros, adjusted EBIT of 570 million euros (margin of 7.1%) and net income of 681 million euros) and its own annual guidance (sales of approximately 8 billion euros, with a margin of about 7%).
The group's order backlog eaches 40.5 billion euros, which Oddo says a historical record. Following this publication, Oddo confirms its rating on the share, along with its target price of 42.50 euros.
The group's CEO and CFO were very confident in their ability to increase sales, profits and margins, as well as FCF, the broker says.
Oddo adds that short- and medium-term targets and detailed comments on the group's strategy will be communicated at the CMD on 24 June. Alstom said in its conference call that it is seeking "add-on" acquisitions, although is not aiming at big targets, with an apparent priority being services and signage, Oddo adds.
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.