Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Veolia : A very good 2019, a strong 2023 trajectory, clear and in line with our expectations

>Buy recommendation and target price of € 32.8 maintained - Following the publication of 2019 results broadly in line with our expectations and the 2020-2023 strategic presentation, the trajectory of which is consistent with our estimates over this timeframe, we confirm our target price of € 32.8. The valuation is based on average historical multiples over the 2000-2019 period applied to the 2020 estimates. We are maintaining our Buy recommendation. The presentation o...
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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