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Alstom: Invest Securities upgrades stock

(CercleFinance.com) - Invest Securities has upgraded its rating on the Alstom share from "sell" to "neutral," following the share price's 7.
5% fall since its last update on 16 July, with the broker raising its target price from 40.2 euros to 43.8 euros, the day after the reduction in the price of Bombardier Transport.

The broker stresses that this negotiated price cut, which was expected after the Canadian group's publication of poor results, could reach 900 million euros, i.e. the equivalent of 2.6 euros per Alstom share.

This positive impact on cash flow comes in addition to that of our change in DCF methodology (+1 euro per share) applied after updating Bombardier Transport's EPS expectations, the broker continued.


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