Veolia Environnement SA (VIE) - Comprehensive analysis
We anticipate a compound annual growth rate of 10% for Veolia's earnings per share and dividends from 2023 to 2028. This projection represents the second-highest EPS growth and the highest dividend growth within our coverage. The expected earnings growth will be fueled by operational efficiencies, including the remaining synergies from the Suez integration, as well as growth investments. Recently, we upgraded our economic moat rating from none to narrow. We believe the market is underestimating the company's competitive advantages and the reduction in its cyclicality resulting from its transformation, which contributes to the significant undervaluation of its shares.
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