Alstom SA

ALO: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€25.30	Bbtrjyg	Lzljqgcfs

Alstom: Fair Value Estimate Under Review

Loredana Muharremi

Oct 5, 2023

Alstom shares dropped 37% on Oct. 5 following the firm’s announcement that cash flow was negative EUR 1.15 billion in the first half of fiscal 2023/24, caused by escalated inventory, lagging progress on the U.K. Aventra project, and subpar order placements. We are placing our fair value estimate under review pending the transition of coverage.

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