Veolia: Bank of America upgrades to 'Buy'
(CercleFinance.com) - Bank of America has upgraded its rating on the Veolia share directly from sell to buy, while raising its target price from 19 euros to 25 euros, the day after the utilities group offered to buy out Engie's 29.
9% stake in the capital of its peer Suez.
Analysts say that Veolia's proposal for a timely merger with Suez that transforms the group could pave the way for faster growth.
"We think that stakeholders' interests are currently aligned in a new way that makes a combination scenario more likely than not," BoA believes, adding that increasing ESG momentum reinforces its appeal.
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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.
9% stake in the capital of its peer Suez.
Analysts say that Veolia's proposal for a timely merger with Suez that transforms the group could pave the way for faster growth.
"We think that stakeholders' interests are currently aligned in a new way that makes a combination scenario more likely than not," BoA believes, adding that increasing ESG momentum reinforces its appeal.
Copyright (c) 2020 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.