Suez : A good Q3, FY 2019 guidance confirmed, but key point still the strategic plan
>Neutral recommendation and target price of € 15.60 maintained - The reported 9M 2019 figures were broadly in line with our estimates, reflecting the favourable trends in the group's sales. The group confirmed its 2019 targets (including sales growth at the upper end of the range, i.e. close to 3%). We have adjusted our sales estimate for 2019 (€ 17.85bn vs € 17.78bn), but this has no impact on our EPS forecasts. Aside from this reassuring trend, the key point remains...Suez is active in each stage of the water and waste cycles. Co. is organized around three main segments: Water Europe (water distribution and treatment services, particularly under concession contracts, to individuals, local authorities and industrial clients); Waste Europe (waste collection and treatment services for local authorities and industrial clients; these services include collection, sorting, recycling, composting, energy recovery and landfilling for both non-hazardous and hazardous waste) and International (water, waste and engineering services, with a special focus on risk-management resulting from specific local environments by setting up partnerships).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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