Alstom: Goldman Sachs still a buyer
(CercleFinance.com) - Alstom remains optimistic about the outlook in the rail market, including the tender documents for FY 2020/21.
Goldman Sachs therefore confirms its buy rating on the stock with a target price of 47 euros (12% upside potential).
The analysts point out that the number of passengers fell considerably from March to mid-May, with the most affected countries seeing falls of over 80%.
Alstom says that currently almost all (90%-95% of pre-Covid levels) trains are running again, although the level is expected to remain below 2019 until a vaccine or other durable solution is found.
"Rail operators have not canceled orders in place, and have received instead meaningful support from governments," Goldman Sachs says.
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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.
Goldman Sachs therefore confirms its buy rating on the stock with a target price of 47 euros (12% upside potential).
The analysts point out that the number of passengers fell considerably from March to mid-May, with the most affected countries seeing falls of over 80%.
Alstom says that currently almost all (90%-95% of pre-Covid levels) trains are running again, although the level is expected to remain below 2019 until a vaccine or other durable solution is found.
"Rail operators have not canceled orders in place, and have received instead meaningful support from governments," Goldman Sachs says.
Copyright (c) 2020 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.