Suez : Our 2018-2020 estimates revised by -6.6%
>Buy recommendation and target price of € 15.6 maintained - Despite the average revision of -6.6% to our sequence of 2018-2020 EPS estimates following adjustments to financial costs and minority interests, we are maintaining our target price of € 15.60, based on an average of DCF (€ 13.43 with a WACC of 4.40% and an unchanged perpetual growth rate of 1.80%) and SOP (€ 17.70) valuations. At the current share price, the 2018 valuation multiples are roughly in line with ...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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