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Veolia: Oddo BHF raises target price

(CercleFinance.com) - At the start of 2020, Oddo BHF reiterates its "buy" rating on the Veolia share, while increasing its corresponding target price from 30 euros to 32.
8 euros (38% upside), switching its valuation base to 2020, with the group set to unveil its strategy for 2020/2023 on 27 February.

The two deals completed at the start of the year (acquisition in hazardous waste in the US and sale of urban sanitation in Singapore) reflect a continuation in the group's strategy of an industrial repositioning towards added value, the analyst points out.

Oddo remains convinced that the repositioning of the investment thesis towards profitable growth, while no longer solely restructuring and cost savings, should enable the share to continue to appreciate in value.

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