Veolia: Bryan Garnier nudges up target price
(CercleFinance.com) - Bryan Garnier has reinstated its "buy" recommendation on the Veolia stock and has inched up its corresponding fair value from 22 euros to 22.
5 euros, underlining that the group's growth momentum remains even stronger than its initial expectations.
After a vigorous first quarter of 2018, the broker has raised its EPS estimates for the utilities group by an average of 1.2% over the period 2018-2020.
Bryan Garnier also points out that the stock is trading at a discount of around 15% in terms of P/E relative to its five-year historical average, despite strong growth momentum, favourable macroeconomic conditions and a healthy balance sheet.
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, underlining that the group's growth momentum remains even stronger than its initial expectations.
After a vigorous first quarter of 2018, the broker has raised its EPS estimates for the utilities group by an average of 1.2% over the period 2018-2020.
Bryan Garnier also points out that the stock is trading at a discount of around 15% in terms of P/E relative to its five-year historical average, despite strong growth momentum, favourable macroeconomic conditions and a healthy balance sheet.
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.