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Veolia: Oddo inches up target price

(CercleFinance.com) - Hailing strong annual results, broker Oddo has raised its target price on the Veolia share from 22 euros to 23 euros, confirming its "buy" rating on the stock this Friday.

The broker underlines that the group's sound performance in 2017 is reflected in a continued strategy of dividend increases (+5%), which, in light of forthcoming difficulties this year - including the loss of a major contract in Gabon, unfavourable FX factors and pressure on prices of raw and secondary materials, has nevertheless reduced its estimates.

However, "the growth outlook remains intact beyond this date, and we have increased our underlying growth estimates, taking into account an acceleration in commercial gains, Oddo said, with the broker remaining confident about the group's bases.

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