Talgo : Services activity continues to suffer from the reduction of trains in circulation. Target price revised to € 5.30
>We have revised down our forecasts - Following an update from Talgo, we have reviewed our outlook and figures: the group’s main concern is the services activity (sales of around € 200m in 2019) which remains depressed because very few trains are running, notably in Spain. We now think that sales could come in below the € 500m mark (but still well above the € 402m reported in 2019) with an EBITDA margin down to 10.0% vs 17.0% in 2019 (additional costs linked to the cr...Talgo is engaged in designing, manufacturing, repairing and maintaining the railway rolling stock, as well as the manufacturing, assembling, repairing and maintaining the engines, machinery and parts of the railway systems. Co. has an industrial presence in seven countries: Spain, Germany, Kazakhstan, Uzbekistan, Russia, Saudi Arabia and U.S.A. Co. has an active fleet in Europe, Asia and North America that comprises of 94 high-speed trains and more than 1,400 Talgo tilting passenger cars. Also, Co. purchases, redesigns, constructs, leases and sells all types of real estate.
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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