Goldman Sachs Downgrades Alstom On Heels Of GE Offer

Goldman Sachs downgraded shares of Alstom from the Conviction Buy List to Neutral and lowered the price target from €36.00 to €28.50 following the news that the revised General Electric GE offer was accepted.

The firm noted that Alstom has been down 5.9 percent since being added to the Conviction Buy List. FTSE World Europe is up 3.1 percent from the corresponding time period.

Shares of Alstom fell as much as 4.1 percent in Monday's trading.