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Alstom: Oddo confirms rating and target price

( - Last night Alstom confirmed that it has received 2.
6 billion euros in cash from General Electric.

Alstom completed the sale of all its shares in three Energy (renewable, grid and nuclear) joint ventures to General Electric.

Oddo confirms its buy rating on the stock, along with its target price of 47 euros following this announcement.

Alstom intends to use these sums in its possession to pay the extraordinary dividends related to the merger with Siemens Mobility, Oddo says.

The broker believes that the group's remarkable commercial performance will fuel growth in earnings and cash flows over the next few years and it is very confident regarding Alstom's performance as a stand-alone entity.

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