Alstom: Invest Securities upgrades stock
(CercleFinance.com) - Invest Securities has upgraded its rating on the Alstom share from "sell" to "neutral," following the share price's 7.
5% fall since its last update on 16 July, with the broker raising its target price from 40.2 euros to 43.8 euros, the day after the reduction in the price of Bombardier Transport.
The broker stresses that this negotiated price cut, which was expected after the Canadian group's publication of poor results, could reach 900 million euros, i.e. the equivalent of 2.6 euros per Alstom share.
This positive impact on cash flow comes in addition to that of our change in DCF methodology (+1 euro per share) applied after updating Bombardier Transport's EPS expectations, the broker continued.
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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.
5% fall since its last update on 16 July, with the broker raising its target price from 40.2 euros to 43.8 euros, the day after the reduction in the price of Bombardier Transport.
The broker stresses that this negotiated price cut, which was expected after the Canadian group's publication of poor results, could reach 900 million euros, i.e. the equivalent of 2.6 euros per Alstom share.
This positive impact on cash flow comes in addition to that of our change in DCF methodology (+1 euro per share) applied after updating Bombardier Transport's EPS expectations, the broker continued.
Copyright (c) 2020 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.