Veolia: Barclays downgrades buy rating
(CercleFinance.com) - In a note on utilities shares, Barclays has downgraded its buy (Overweight) rating on Veolia shares to a more neutral stance (weight in line).
The broker maintains its target price of 23.5 euros for the share.
Previously, analysts recommended investors play improvements in Veolia's fundamentals, which have filtered through to its accounts and have resulted in the share rising by nearly 20% ytd.
While Veolia remains Barclays' best pick in its sector in France, analysts now recommend investors take profits as the share's upside potential is waning.
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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 broker maintains its target price of 23.5 euros for the share.
Previously, analysts recommended investors play improvements in Veolia's fundamentals, which have filtered through to its accounts and have resulted in the share rising by nearly 20% ytd.
While Veolia remains Barclays' best pick in its sector in France, analysts now recommend investors take profits as the share's upside potential is waning.
Copyright (c) 2019 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.