On Wednesday, Deutsche Bank (ETR:DBKGn)'s analysts announced an increased price target on Alstom (EPA:ALSO) SA (ALO:FP) (OTC: ALSMY) shares, raising it from €25.00 to €26.00, while reiterating a Buy rating.
This adjustment follows Alstom's fiscal third-quarter performance, which outperformed market expectations, with orders and revenues exceeding consensus forecasts by 6% and 4%, respectively.
The analyst highlighted that the company's solid commercial dynamics and strong revenue growth were key factors in the decision to raise the price target.
Alstom's robust order pipeline was also noted, with the fourth quarter anticipated to surpass the third, and full-year orders expected to top €20 billion.
The analysts said "Supply chain challenges are being mitigated, the mix continues to improve and management reaffirmed its FY and mid-term guidance." In light of these developments, Deutsche Bank has slightly increased its earnings per share (EPS) estimates for Alstom by an average of 1%.
The positive assessment comes after Alstom's most recent closing price of €20.81.
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