The analyst believes that the tone is confident, but that there is a lack of concrete figures until May.

UBS confirms its neutral recommendation on the value with a price target of E12.7, which represents a potential upside of 7%.

' Confident tone on organic cash generation and asset disposals, but uncertainty over debt position until May 8. Bookings for major rolling stock contracts to be monitored' says UBS.

Alstom has indicated that it is aiming to reduce its net debt position by two billion euros by March 2025, with the breakdown of this plan to be specified no later than when it publishes its annual results in May 2024.

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