Veolia: Bryan Garnier still a buyer; ups target price
(CercleFinance.com) - Bryan Garnier has confirmed its “buy” rating on the Veolia stock, inching up its fair value from 22.
5 euros to 23 euros, moreover judging that, "The 8% decline in the share price over the past month offers a good entry point".
While Veolia is set to release its interim results on 1 August, the broker believes that revenue growth in Q2 will probably remain above the utilities group's 2%-3% normative trend.
"The gap observed in Q1 between revenue and EBITDA growth is also likely to be progressively bridged in Q2 with the fuel cost headwind unlikely to be repeated,” it continues.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
5 euros to 23 euros, moreover judging that, "The 8% decline in the share price over the past month offers a good entry point".
While Veolia is set to release its interim results on 1 August, the broker believes that revenue growth in Q2 will probably remain above the utilities group's 2%-3% normative trend.
"The gap observed in Q1 between revenue and EBITDA growth is also likely to be progressively bridged in Q2 with the fuel cost headwind unlikely to be repeated,” it continues.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.