French train manufacturer Alstom slides over 20% after cash flow downgrade
Publishing timestamp: 2023-10-05 08:00:29
Summary
Alstom's shares plummeted by up to 38% after the company slashed its free cash flow forecast. The decline wiped roughly 2.9 billion euros from Alstom's market value. The company cited a steep ramp-up in organic growth and the finalization of legacy projects as factors weighing on its free cash flow. Analysts expressed concerns about management credibility and noted that Alstom's orders and sales also came in below expectations. However, some analysts still maintained a "buy" rating on the stock and projected improvements for the second half of the year.
Sentiment: NEGATIVE
Tickers: ALO-FR,
Keywords: business news, alstom sa, breaking news: markets, markets, business, world economy,