Veolia: Berenberg reduces target price
(CercleFinance.com) - On Thursday Berenberg reduced its target price for Veolia Environnement shares from 39 euros to 36.
5 euros, while maintaining its buy rating on the stock.
In a report, the broker believes that the environmental services group's share price reflects too pessimistic a view from investors regarding the company's exposure to the economic slowdown.
The share's current price also undervalues the attractive fundamentals of the Suez acquisition, as well as the growth opportunities for the newly enlarged group, it added.
The analyst says that this period of uncertainty therefore represents a buy opportunity for investors willing to take exposure.
The share is currently down 2.8% at just over 25 euros.
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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.
5 euros, while maintaining its buy rating on the stock.
In a report, the broker believes that the environmental services group's share price reflects too pessimistic a view from investors regarding the company's exposure to the economic slowdown.
The share's current price also undervalues the attractive fundamentals of the Suez acquisition, as well as the growth opportunities for the newly enlarged group, it added.
The analyst says that this period of uncertainty therefore represents a buy opportunity for investors willing to take exposure.
The share is currently down 2.8% at just over 25 euros.
Copyright (c) 2022 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.