Suez : Good-quality Q3 figures, but the future is still uncertain
>Neutral rating and target price of € 13.0 maintained - As expected, business trends in Q3 were marked by some return to normal in the group's operations and divisions. The reported Q3 2020 figures came in slightly ahead of our expectations. Out of an abundance of caution in view of the environment, the group is maintaining its 2020 guidance, which points to a marked decline in Q4 (-28% at the EBIT level). At this stage and pending clearer visibility, we are leaving o...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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