(Boursier.com) — Complicated weekend for Alstom which now falls by almost 9% to 28.9 euros. The selling pressure on the file is to be linked to a note from Exane BNP Paribas which downgraded the title of the railway group to ‘neutral’ while reducing its objective from 40 to 33.5 euros. The broker mentions the risk that the company resorts to raising capital to prevent a possible drop in its credit rating at Moody’s. The company’s debt after the deal with Bombardier is higher than originally expected by Exane and Moody’s has attached a ‘negative’ outlook to the company’s credit rating.
Despite everything, the market remains mostly positive on the stock since, according to the ‘Bloomberg’ consensus, 16 analysts are ‘buying’, 4 are ‘holding’ and only 2 are ‘selling’. The average 12-month target is set at 40.62 euros.
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