Jefferies reinstates Veolia at 'hold'
26/10/2026 06:49
BUZZ-Jefferies reinstates Veolia at 'hold' ** Jefferies reinstates its coverage on Veolia VIE.PA at "hold" saying that while the French waste and water management company "screens cheap", it is cautious on its earnings growth
** It says Veolia's core municipal water business is stagnating while the group's mix is gradually shifting away from higher-margin activities, making it harder to sustain longer-term margin growth
** It adds that Newer growth businesses continue to miss targets and remain too small to materially boost group revenue growth in the medium term
** Still, after the around 12% selloff in the last three months, Jefferies says the valuation is now more supportive
** It sets its PT at €30
(Reporting by Zakarya Meliani)