Alstom: UBS confirms 'buy' rating
(CercleFinance.com) - UBS has confirmed its buy rating on the Alstom share this morning, after Bouygues' placement of nearly half of its stake.
The broker maintains its 12-month target price of 45 euros.
The note recalls that the reduction in Bouygues' exposure was long awaited by investors, and that the transaction does not question UBS' optimism on Alstom, which is "supported by strong rolling stock, signalling and services fundamentals".
In addition, there are the group's medium-term targets, with management targeting an operating margin of 9% by 2022/2023, with FY sales growth of around 5% by then.
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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 maintains its 12-month target price of 45 euros.
The note recalls that the reduction in Bouygues' exposure was long awaited by investors, and that the transaction does not question UBS' optimism on Alstom, which is "supported by strong rolling stock, signalling and services fundamentals".
In addition, there are the group's medium-term targets, with management targeting an operating margin of 9% by 2022/2023, with FY sales growth of around 5% by then.
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.