Deutsche Bank reiterates its hold rating on French train manufacturer Alstom but cuts its price target to 13 euros from 19 following the company’s earnings warning.
The bank cuts its earnings per share forecasts by an average of 33 percent from fiscal year 2027/28, due to more cautious earnings assumptions and a possible 1.5 billion euro rights issue.
During the first half of 2026/27, organic sales increased by only 2 percent, while the adjusted EBIT margin fell to negative 4 percent. The problems are linked to the Coradia Max train programme in Germany.
