Veolia: Oddo BHF still believes; targets 30 euros
(CercleFinance.com) - Oddo BHF still believes in the Veolia share and this morning confirmed its buy rating on the stock, hailing the utilities group's quarterly results.
The broker therefore confirms its buy rating on the stock, along with a target price of 30 euros, which suggests upside potential of 40%.
Analysts welcome the strong organic growth in Q1 2019: +3.5%, despite an adverse climate for the group's heating business, after +4.7% in Q4 2018, and despite a difficult comparison basis (organic growth reached 5.4% in Q1 2018).
The group's accounts have followed this trend and management has confirmed its FY 2019 forecasts, including cost reductions of over 220 million euros.
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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.
The broker therefore confirms its buy rating on the stock, along with a target price of 30 euros, which suggests upside potential of 40%.
Analysts welcome the strong organic growth in Q1 2019: +3.5%, despite an adverse climate for the group's heating business, after +4.7% in Q4 2018, and despite a difficult comparison basis (organic growth reached 5.4% in Q1 2018).
The group's accounts have followed this trend and management has confirmed its FY 2019 forecasts, including cost reductions of over 220 million euros.
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.