Veolia: Oddo BHF maintains its rating.
(CercleFinance.com) - Oddo BHF maintains its buy rating on the Veolia stock, with a target price of 22 euros, following the organisation of a Road Show in Germany with group management.
"The contribution of growth on the one hand, and the group's respect of cost-saving targets, make us confident in our current estimates," the broker's analysts said.
"In the longer term, the Group is on track to meeting its ROCE target of 9.0% (vs. 7.2% today), especially since the risk associated with a major acquisition is very low in the foreseeable future."
Oddo BHF believes that after strong growth in the first half (+4.4% excluding FX factors), Veolia is expected to reach the top of its growth range in 2017 (target range of between 2% and 3%).
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"The contribution of growth on the one hand, and the group's respect of cost-saving targets, make us confident in our current estimates," the broker's analysts said.
"In the longer term, the Group is on track to meeting its ROCE target of 9.0% (vs. 7.2% today), especially since the risk associated with a major acquisition is very low in the foreseeable future."
Oddo BHF believes that after strong growth in the first half (+4.4% excluding FX factors), Veolia is expected to reach the top of its growth range in 2017 (target range of between 2% and 3%).
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.