Alstom: Stifel still on hold after results
(CercleFinance.com) - The analyst underlines that Alstom has published FY 2021/22 results that exceeded expectations in terms of FCF and has published new forecasts for FY 2022.
Following this announcement, Stifel confirmed its Hold rating on the stock with a target price of 23 euros.
FY21/22 revenue reached 15,471 million euros (+76% y-o-y), in line with the Bloomberg consensus estimate of 15.3 billion euros (1% above consensus), the broker says.
While reported EBIT was only -156 million euros (-152% y-o-y), EBITDA was 767 million euros (19% y-o-y), 17% higher than the previous year's EBIT.
The group expects to report gradual growth in 2022-23 in its adjusted operating margin, confirming its MT "Alstom in Motion 2025" targets, with increased estimated synergies of 475-500 million euros from 2025-26.
The Alstom share is taking a big hit today though - down 7% at noon.
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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.
Following this announcement, Stifel confirmed its Hold rating on the stock with a target price of 23 euros.
FY21/22 revenue reached 15,471 million euros (+76% y-o-y), in line with the Bloomberg consensus estimate of 15.3 billion euros (1% above consensus), the broker says.
While reported EBIT was only -156 million euros (-152% y-o-y), EBITDA was 767 million euros (19% y-o-y), 17% higher than the previous year's EBIT.
The group expects to report gradual growth in 2022-23 in its adjusted operating margin, confirming its MT "Alstom in Motion 2025" targets, with increased estimated synergies of 475-500 million euros from 2025-26.
The Alstom share is taking a big hit today though - down 7% at noon.
Copyright (c) 2022 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.