Alstom shares plunge 26% to a two-year low of €10.89
The rail manufacturer is having a dismal session, the heaviest decline in its index, after a sharp downward revision of its annual targets. The stock has fallen below all its technical benchmarks, levels it had not reached in several years.
Revised targets leave the stock below €12 and at the bottom of the SBF 120
Alstom shares fell 26.22% to €11.67, the worst performer in the SBF 120 by a wide margin, ahead of Nanobiotix (-5.05%), while the index rose 0.40%. During the session, the stock touched €10.89, a two-year low: the previous record dated from 2024, at €14.48.
On Monday, 2 November, the group published unaudited preliminary half-year results: the adjusted EBIT margin is negative and the new annual target is 1%, compared with 6.5% previously.
Execution difficulties are concentrated in Europe, on the Coradia Max platform. Chief Executive Martin Sion, in the role since April, links these revisions to a project-by-project risk review, with the aim of normalising performance from the next financial year. The stock has lost 27.5% over one week, and the decline reaches 46% over one year.
Break below 250-session low, RSI at 19 and analysts' recommendation to hold
The stock broke decisively through the low of the past 250 sessions, at €14.54, which now becomes resistance. There is therefore no identifiable support left below the current price.
The decline is such that the stock trades 26% below its 20-day moving average and 39% below its 200-day moving average, while the RSI at 19 reflects a pronounced oversold configuration.
Among analysts, CIC Market Solutions maintains its hold recommendation with a price target of €20, a level 71% above the current price.
According to the consensus of the analysts covered, the stock trades at about 7.7 times earnings for the current year. Declared net short positions reach 4.99% of the share capital, spread across six funds, a high level but down very slightly over one month (-0.08 point).
For reference, at the publication of Q1 2027 results on 22 July 2026, the group was targeting organic growth of around 5% and an adjusted operating margin of around 6.5%: the margin target has just been lowered to 1%.
