Veolia: Oddo BHF remains positive despite politics

(CercleFinance.com) - Oddo BHF has confirmed its "outperform" rating on and E43.
4 target price for Veolia shares, taking a reassuring view of the recent political events in France that have affected the utility group's share price.

The share price has come under particular attack in recent days over the content of the programs of the various parties contesting the parliamentary elections, which seems to us to be exaggerated in view of the group's activities and contractual framework, it said.

Below E30, the share's current valuation does not take into account the profile of the new group integrating Suez's assets, nor the synergies and operating efficiencies generated, the analyst adds.

At this stage, and after a company contact which confirms its views, Oddo BHF considers that the different proposals from political parties are not generally negative for the group in terms of drinking water, wastewater treatment or waste management.


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