Alstom: JP Morgan sees higher!











Photo credit © Alstom


(Boursier.com) — Alstom remains stable on Monday at 24.50 euros, despite JP Morgan which published a note with an opinion to ‘overweight’ on the file and an adjusted price target of 30 to 35 euros. During the first half of 2022/23 (from April 1 to September 30, 2022), the group recorded 10.1 billion euros in orders. Sales reached 8 billion euros, in line with the targeted trajectory, with the “orders to sales” ratio standing at a solid level of 1.25. The backlog reached 85.9 billion euros, providing strong visibility on future sales.

Alstom’s adjusted operating income came to 397 million euros, equivalent to an adjusted operating margin of 4.9%. Adjusted net income reached 179 million euros and free cash flow amounted to (45) million euros during this first half.
The outlook for the 2022/23 fiscal year calls for an adjusted operating margin of 5.1% to 5.3% and free cash flow between 100 and 300 million euros.
The medium-term objectives for 2024/25 are also confirmed…


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