Wednesday May 7, 02:15 PM
Veolia Environnement downgraded to "neutral"
By J.P. Morgan Securities
LONDON, May 7 (newratings.com) - Analysts at JP Morgan downgrade Veolia Environnement (Paris: FR0000124141 - news) (ticker: VIE-EUR) from "overweight"
to "neutral." The target price has been reduced from E70 to E56.
In a research note published this morning, the analysts mention that the company has reported its 1Q revenues ahead of the estimates, at the cost of lower-than-expected margins. Currency movements negatively impacted Veolia Environnement's results for the quarter, the analysts say. There is limited upside to the company's share price for the remainder of the year, JP Morgan believes.
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