Veolia Environnement SA

VIE: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€77.60	Xwvqjj	Qthrfqlrw

Veolia Earnings: Price Increases Still Strong; Waste Volumes Picking Up; Shares Undervalued

Tancrede Fulop

May 14, 2024

We maintain our EUR 36 fair value estimate after narrow-moat Veolia released first-quarter results in line with company-compiled consensus and confirmed its 2024 guidance. Shares are materially undervalued.

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