Veolia : An in-line performance and a clear message, victim of the summer break
>Buy recommendation and € 30 target price maintained - Following Veolia’s H1 2019 results and the group lunch we organised in Paris, we are confirming our Buy recommendation and € 30 target price based on average historical multiples for the period 2000-2018 applied to 2019e estimates. The market’s negative reaction in the wake of this release seems to stem from a combination of concerns around the acceleration in capex, including through external growth, and profit t...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).
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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