Veolia: Bryan Garnier adjusts target price.

(CercleFinance.com) - While maintaining its "neutral" rating on Veolia, Bryan Garnier has inched up its fair value for the stock from 18.
5 euros to 19.5 euros, with revenue growth exceeding expectations in the first quarter, which has led the broker to slightly increase its expectations.

The broker has therefore raised its estimates for Veolia's sales and EBITDA over the period 2017-2019, by an average of 1.4% and 1.3%, respectively.

The broker continues to emphasize that the utility group's earnings and valuation "would clearly be enhanced in the event of a clear recovery in European industrial production."


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