Alstom: share price up, an analyst's opinion

(CercleFinance.com) - Alstom is up over 2% in Paris after Oddo BHF confirmed its 'outperform' rating on the stock, with a price target raised from 24 to 26 euros.


The analyst cites supply chain problems which 'worsened in H1' but which 'remain manageable'.

Delays are attributed to poor anticipation on the part of suppliers, and to maturity problems with a number of technologies (batteries, for example).

According to the analyst, the Group is one of the few in its universe of stocks to be able to write a 'self-help' story over the next 2-3 years.

'This recovery story does not seem to us to be integrated into the current share price, which is trading on an EV/EBIT 12m forward multiple of around 9x, compared with over 13x before the deal with Bombardier', stresses the broker.


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