(CercleFinance.com) – Oddo BHF confirms its ‘outperformance’ opinion on Alstom with an adjusted price target of 25 to 24 euros, in the wake of a reduction in EPS mainly due to an increase in restructuring charges and, to a lesser extent measure, financial costs.
‘The group should achieve a good end to 2023-24, both in terms of orders and turnover and FCF’, estimates the analyst, adding that ‘the year 2024-25 should begin a continuation of margin improvement and a very positive FCF’.
‘The current price already includes, in our opinion, a capital increase, and does not reflect the group’s potential with regard to the prospects for business growth, margin improvement and FCF generation,’ he continues.
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