Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Veolia : A clear path to 2027

>Outperform rating and target price of € 43.4 confirmed - Following the 2023 results, in line with our expectations, and the delivery of the path to 2027, we are confirming our Outperform rating and our target price of € 43.4 based on an average between a DCF (€ 34.5), a sum of the parts (€ 46.9) and a valuation based on historical multiples (€ 49.7). The share price is still below that of Veolia stand alone on the basis of analysts’ target prices (between € 28.0 and ...
Underlying
Veolia Environnement SA

Veolia Environnement provides environmental management services to public authorities, industrial and commercial services customers, and individuals worldwide. These services include the supply of water, the treatment and recovery of municipal or industrial effluent, waste collection, processing and recycling, the supply of heating and cooling services and the optimization of industrial processes. Co.'s business operations are conducted through three divisions, each specializing in a single business sector: Veolia Eau (Water), Veolia Energie (Dalkia, Energy Services) and Veolia Proprete (Environmental Services).

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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