Alstom: Invest Securities still 'neutral'.
(CercleFinance.com) - On Wednesday Invest Securities confirmed its "neutral" rating on the Alstom stock, along with its target price of 36 euros, the day after the group published interim results that were above expectations, beyond a decline in the flow of orders.
"In particular, Free cash flow (FCF) remained high, despite the rise in capex which will increase in the second half in South Africa and India, ahead of our estimates," said the analyst.
Even so, the rebound - which is justified in his opinion - of the stock yesterday (+3.4%) limits the stock's short-term potential and justifies why the broker is maintaining its rating, Invest Securities believes, which has also looked at the case of the creation of the new group Siemens Alstom.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"In particular, Free cash flow (FCF) remained high, despite the rise in capex which will increase in the second half in South Africa and India, ahead of our estimates," said the analyst.
Even so, the rebound - which is justified in his opinion - of the stock yesterday (+3.4%) limits the stock's short-term potential and justifies why the broker is maintaining its rating, Invest Securities believes, which has also looked at the case of the creation of the new group Siemens Alstom.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.