Veolia: Oddo still a buyer after offer to buy Suez stake
(CercleFinance.com) - On Tuesday morning an Oddo BHF analyst confirms his "Buy" recommendation on the Veolia share, along with a target price of 24 euros.
The broker's target suggests upside potential of around 19%.
The acquisition of a stake in Suez, beyond Engie's stake, opens up a new chapter in Veolia's investment case. While synergies are obviously at the heart of this deal, the new profiling of this new entity, with asset sales beyond the remedies required by competition authorities, will enable an acceleration in growth within the industrial markets and a better capture of the benefits of the European green deal. However, above all else, Engie's acceptance is an essential prerequisite, Oddo BHF says.
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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's target suggests upside potential of around 19%.
The acquisition of a stake in Suez, beyond Engie's stake, opens up a new chapter in Veolia's investment case. While synergies are obviously at the heart of this deal, the new profiling of this new entity, with asset sales beyond the remedies required by competition authorities, will enable an acceleration in growth within the industrial markets and a better capture of the benefits of the European green deal. However, above all else, Engie's acceptance is an essential prerequisite, Oddo BHF says.
Copyright (c) 2020 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.