Veolia Environnement: Berenberg raises target price
(CercleFinance.com) - Berenberg raised its target price for French utility group Veolia Environnement from 20.
75 euros to 22.40 euros, and kept its "buy" rating on the stock.
In a note to clients, the German broker said that it expects continued efficiency improvements and organic growth to drive a robust 10% growth in Veolia's net income by 2023, with 8% growth in its dividend.
"We believe that these drivers will help the now more economically resilient group overcome a forecast temporary slowdown in European industrial production growth," it wrote.
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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.
75 euros to 22.40 euros, and kept its "buy" rating on the stock.
In a note to clients, the German broker said that it expects continued efficiency improvements and organic growth to drive a robust 10% growth in Veolia's net income by 2023, with 8% growth in its dividend.
"We believe that these drivers will help the now more economically resilient group overcome a forecast temporary slowdown in European industrial production growth," it wrote.
Copyright (c) 2019 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.