Stadler Rail AG : Multiples now reasonable. Rating raised to Neutral (vs Underperform)
>After a 23% fall in the share price over 2 years, the multiples are becoming rational - The 23% fall in the share price over two years has brought Stadler’s multiples more into line with its status as a stock exposed to the rail sector. The share is now trading at an EV/EBIT 12m multiple of 12.7x, a discount of 23% to its historical average. Despite this de-rating, the stock nonetheless remains the most expensive in the rail sector (average EV/EBIT 12m multiple of 9...Stadler Rail AG is a Switzerland-based company engaged in design and manufacturing of rail vehicles. The Company's product portfolio includes suburban and regional transport trains, light rail vehicles, trams, high-speed and intercity trains, city transport vehicles, locomotives, passenger trains and tailor-made vehicles. The Company serves customers worldwide.
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.
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