Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Veolia : Path set and confirmed for 2027

>Outperform rating and target price of € 43.4 maintained - Following the road show that we organised in Germany with the CEO, the CFO and the deputy CFO, we confirm our Outperform rating and target price of € 43.4 based on the average between a DCF (€ 39.6), a sum-of-the-parts (€ 42.3) and a valuation based on historical multiples (€ 48.3). The share price, despite recovering from the 12 October yearly low (€ 19.13), is now valued at the same level as Veolia stand-alo...
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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