Alstom shares fall to €11.13 before rebounding above that level

A support level broken intraday then recovered, after a 30.7% decline over one week

Alstom shares gain 0.81% to €11.22 while the CAC 40 rises 1.52%. The stock nonetheless broke below its €11.13 support intraday, falling to a low of €11.02, before recovering above it. This level had only given way after a 30.7% drop over seven days, following the revision of annual targets unveiled on November 2.

The targeted adjusted EBIT margin for fiscal 2026/27 falls from 6.5% to approximately 1%, and free cash flow is expected to be minus €1.5 billion. The RSI at 19 reflects the extent of the decline.

The share price remains 26.75% below its MM20 and 40.66% below its MM200, far from resistance at €16.45. On the day alone, however, the stock ranks 84th in the SBF 120, which is up 1.48%.

Goldman Sachs and Barclays cut their price targets below €10

Two brokers revised their forecasts this Wednesday. Goldman Sachs, with a sell rating, lowers its target from €15.50 to €9.00.

Barclays reduces its target from €10.00 to €8.00. Both targets are therefore below the current share price, implying a potential downside of about 20% for the former and nearly 29% for the latter.

According to the consensus of the analysts surveyed, the stock trades at around 7.4 times earnings for the current fiscal year.

Another indicator to watch: reported net short positions reach 5.49% of the share capital, spread across seven funds, up 0.35 points over the past thirty days. This level shows that a notable share of institutional investors is betting on a decline in the stock.

The one-month decline nonetheless remains pronounced and reflects a marked lack of confidence among investors.