Veolia: Oddo BHF maintains buy rating, raising TP
(CercleFinance.com) - Oddo BHF has confirmed its "buy" recommendation on the Veolia share, while raising its corresponding target price from 24 euros to 30.
9 euros, given the group's current profile and pointing to its major strategic offensive to acquire 100% of the capital of its peer Suez.
This operation, initiated by the purchase of the 29.9% stake held by Engie, has increased the pressure of the current economic environment on the share price due to its uncertainty and the time it will take to complete, the analyst notes.
According to the broker, the simulation of the merger between both groups shows an acceleration in the average annual growth of the operating aggregates compared to Veolia as a stand-alone entity and an initial outline valuation of 47 euros per share.
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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.
9 euros, given the group's current profile and pointing to its major strategic offensive to acquire 100% of the capital of its peer Suez.
This operation, initiated by the purchase of the 29.9% stake held by Engie, has increased the pressure of the current economic environment on the share price due to its uncertainty and the time it will take to complete, the analyst notes.
According to the broker, the simulation of the merger between both groups shows an acceleration in the average annual growth of the operating aggregates compared to Veolia as a stand-alone entity and an initial outline valuation of 47 euros per share.
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.