Veolia: the title declines, an analyst lowers its target


(CercleFinance.com) – Veolia lost almost 3% in Paris, penalized by an analysis by Berenberg which reduced its price target for the stock on Thursday from 39 to 36.5 euros, while renewing its buy recommendation on the title.

In a research note, the financial intermediary believes that the environmental services giant’s share price reflects an overly pessimistic view of investors regarding its exposure to the economic downturn.

The current level of the stock market also underestimates the attractive fundamentals linked to the acquisition of Suez, as well as the growth opportunities that will arise for the new enlarged group, he adds.

For the German analyst, this period of uncertainty therefore represents a buying opportunity likely to interest investors willing to expose themselves.

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