We raise our Alstom fair value estimate to EUR 42.
Alstom reported superb first-quarter sales of EUR 2 billion, up 14% on a reported basis and 17% organically on the year-ago period. Additionally, the firm recorded a thrilling level of orders of EUR 2.6 billion, up 42% from a year earlier, including the contract win for a driverless metro system for Montreal, an order for Citadis trams in France and Germany, and a combined equipment and maintenance contract for metro in Sydney. The record backlog of EUR 35.5 billion at the end of June 2018, up 4...Alstom serves the power generation and transmission markets, and rail transport market. Co.'s activities are divided into four sectors: the Thermal Power Sector (Co. offers power generation solutions using gas or coal to services including plant modernization, maintenance and operational support); the Renewable Power sector offers EPC solutions, turbines and generators, control equipment and maintenance for Hydropower and Wind power activities; the Grid Sector designs and manufactures equipment and turnkey solutions to manage power grids and transmit electricity from the power plant to the large end-user; and the Transport Sector provides rail transport products, systems and services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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