(CercleFinance.com) – Berenberg announced on Tuesday that it had raised its price target on Veolia Environnement, from 36.5 to 38 euros, judging the collective services specialist to be both ‘resilient’ and ‘undervalued’. in stock exchange.
According to the analyst, who maintains his buy recommendation on the stock, the solid growth recorded by the group over the first nine months of the year demonstrates its ‘resilience’ in a ‘difficult’ economic environment.
It also highlights the French group’s commercial successes, as well as its discipline in pricing, costs and capital allocation.
‘From our point of view, these elements, without taking into account the opportunities represented by the global ecological transition and the creation of value linked to the acquisition of Suez, are not reflected in the current stock price,’ adds the intermediary .
For Berenberg, this gap in terms of valuation is not sustainable at a time when Veolia continues to deny concerns surrounding the cyclical nature of its businesses.
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