Veolia: Oddo still a buyer

(CercleFinance.com) - Oddo confirms its "outperform" rating on Veolia shares, with an unchanged target price of 43.
4 euros (current price about 26 euros, +3%).

Oddo reports that the UK competition authority is concerned about the economic consequences of the merger between Veolia and Suez. At this stage, it remains difficult to assess the portion of assets that the new group will have to sell to competition, the broker notes.

However, it should be noted that the loss of EBITDA will remain relatively marginal, although in return, the valuation of the assets constituting the remedies requested by the Competition & Market Authority (CMA) should enable Veolia to increase its financial flexibility and generate capital gains, Oddo adds.


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