Suez : Growth trajectory for 2021
>Tender to offer (vs Neutral) and target price of € 20.5 vs € 16.30 - Following the Q1 2021 earnings presentation and the roadshows we organised with the group's CFO, we have adjusted our rating to Tender shares vs Neutral and raised our target to € 20.50, in line with the price Veolia is offering the group's minority shareholders. The 2% increase in our 2021 EPS estimate takes account of the revision to interest expense and the guidance range. The indicators for Q1 a...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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