Veolia: Oddo confirms its 'buy' rating
(CercleFinance.com) - In a report issued on Monday, and following a meeting with CFO Philippe Capron, Oddo has reinstated its "buy" rating on the Veolia stock, maintaining its target price of 23 euros.
2018 will be a year of profitable growth, with continued growth at the group's businesses and a strengthening of the cost savings program, the broker said, emphasizing that in the medium term Veolia's growth will be based on a strategy of self-financing which will enable it to finance small acquisitions as well as a regular increase in its dividend (+5% this year).
Furthermore, the group has also confirmed maintaining an "asset light" approach to infrastructure, a strategy that improves ROCE, which was already 8.4% in 2017, Oddo points out.
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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.
2018 will be a year of profitable growth, with continued growth at the group's businesses and a strengthening of the cost savings program, the broker said, emphasizing that in the medium term Veolia's growth will be based on a strategy of self-financing which will enable it to finance small acquisitions as well as a regular increase in its dividend (+5% this year).
Furthermore, the group has also confirmed maintaining an "asset light" approach to infrastructure, a strategy that improves ROCE, which was already 8.4% in 2017, Oddo points out.
Copyright (c) 2018 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.