Report
Delphine Brault

Alstom : OC relevé à 54 € : un projet Bombardier prometteur

>Un rachat qui offre de nombreux atouts - Alstom propose un prix situé entre 0.7x et 0.8x en VE/CA 2020, soit environ 9-11x en VE/EBITDA. Même si Bombardier Transport (BT) fait face à certains projets difficiles à exécuter, ceci semble bien reflété dans l’offre. BT apporte des positions de marché intéressantes dans plusieurs pays, dont l’Allemagne, le UK, les US ou la Chine, ainsi que certains produits complémentaires (par ex. le monorail). La part des services dans ...
Underlying
Alstom SA

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Delphine Brault

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