Veolia: Bryan Garnier upgrades rating
(CercleFinance.com) - Bryan Garnier has upgraded its rating on the Veolia stock from "neutral" to "buy" and has nudged up its fair value from 21.
5 euros to 22 euros, based on better prospects for long-term growth for the utility group.
The broker sees “solid and sustainable top-line and bottom-line growth prospects, headroom for a potentially more aggressive acquisitions policy and the current discount relative to historical
multiples.”
The share's fair value implies upside potential of 10.5% relative to its current price. "Today, the placement of around 4.5% of Veolia's share capital by Qatari Diar could provide an even more attractive entry point," the broker added.
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.
5 euros to 22 euros, based on better prospects for long-term growth for the utility group.
The broker sees “solid and sustainable top-line and bottom-line growth prospects, headroom for a potentially more aggressive acquisitions policy and the current discount relative to historical
multiples.”
The share's fair value implies upside potential of 10.5% relative to its current price. "Today, the placement of around 4.5% of Veolia's share capital by Qatari Diar could provide an even more attractive entry point," the broker added.
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.