Veolia Environnement: Deutsche Bank cuts TP

(CercleFinance.com) - On Monday Deutsche Bank reduced its target price for Veolia Environnement shares from E34 to E32, while renewing its buy recommendation on them.


In a study on European utilities shares, the analyst says that he has upgraded his opinion on the sector to 'positive', after recommending that investors pause for breath last October following its stockmarket recovery.

From the broker's viewpoint, European utility stocks are currently trading at an exceptionally attractive discount of around 8%.

The broker also believes that the market is overestimating the impact of Trump's policies on the sector, and their effect on the performance of renewable energy projects in the US.


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