1104 GMT - Alstom's first-half results boost the market's confidence in its turnaround plan, JPMorgan analysts say in a research note. The French trainmaker's backlog gives it visibility regarding revenue growth in the coming years, the analysts say. Rail is a growth market from which a high level of activity is expected in the following years, JPM says. "If Alstom meets its full-year margin guidance, it will enhance confidence in the medium-term margin outlook," the analysts say. If it reaches its fiscal 2027 medium-term targets, Alstom's shares could be valued at more than 30 euros, they say. Alstom could potentially reach this share price during 2026, they say. JPM raises its target price on Alstom shares to 24.50 euros from 21.80 previously. Shares trade 5.1% higher to 23.17 euros. (pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
November 15, 2024 06:04 ET (11:04 GMT)
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