ALSTOM : Oddo BHF confirms its recommendation on the stock
Last night, Alstom reported Q3 2024/25 sales 4% ahead of expectations. Orders amounted to E4.26 billion, bringing the book-to-bill ratio to 0.91x.
The biggest surprise in this publication comes from sales, which are up 9.8% organically on Q3 2023/24, with continued strong growth in services (+8.5%) and signalling (+5.5%), while rolling stock and systems are up 5% and 52.9% respectively", reports the analyst.
Oddo BHF raised its estimates by an average of 1%.
The weakness in orders this quarter was, in our view, largely anticipated, and does not call into question our book-to-bill target of >1 for the full year. Tensions in the supply chain are easing, which is good news", concludes the broker.
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