UBS downgrades its recommendation on Alstom from 'buy' to 'neutral', with a price target reduced from 33.5 to 12.7 euros, a new target implying only a 5% upside potential for the French transport equipment supplier's stock.

Alstom presents a substantial value opportunity, with a price/earnings ratio of five times and an FCF yield of 10%, but given the current lack of clarity on the balance sheet recovery, we are passing neutral on the dossier", explains the broker.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.