Deutsche Bank cuts Veolia stock target from EUR 39 to EUR 37

Published on 10/08/2026 at 11:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Veolia delivered EUR 22.19 billion revenue in the first half of 2026, up 0.80 percent. Veolia stock costs EUR 30.74 on October 8, 2026 versus EUR 30.94.

SW-Reportage Techniker warten Rohrsystem, Veolia Environnement S.A., FR0000124141 — Veolia Environnement S.A. (FR0000124141) präsentiert dokumentarisch in Schwarzweiß Techniker bei Wartungsarbeiten in einer Abwasseranlage, Illustration mit AI erstellt.

Veolia stock (ISIN FR0000124141) was trading at EUR 30.74 at Lang & Schwarz on October 8, 2026 at 11:43 a.m. CEST, down 0.65 percent from the prior close of EUR 30.94. Deutsche Bank lowered its Veolia price target from EUR 39.00 to EUR 37.00 on October 7, 2026, while keeping its Buy rating, as BFM Bourse reported.

Target cut meets resilient results

The lower target contrasts with Veolia's latest operating figures. Café de la Bourse reported that revenue reached EUR 22.19 billion in the first half of 2026, while EBITDA rose 5.00 percent to EUR 3.55 billion. Current net income increased 10.40 percent to EUR 837.00 million over the same period.

The figures point to a profitability-led result rather than a high-revenue growth story. Café de la Bourse reported a first-half EBITDA margin of 16.00 percent, up 70 basis points, and EUR 195.00 million of efficiency gains.

Analysts weigh earnings momentum

Morgan Stanley also reduced its Veolia target, from EUR 38.00 to EUR 35.00, while maintaining an Equal-weight rating, according to Investing.com on October 7, 2026. The brokerage cited weak earnings momentum, high diesel prices and higher bond yields as pressures on the near-term view.

At EUR 37.00, Deutsche Bank's revised target lies 20.36 percent above the Lang & Schwarz price. Morgan Stanley's EUR 35.00 target lies 13.53 percent above that same euro quote, leaving analyst views above the current market indication despite the cuts.

November results set the next marker

Veolia's finance calendar schedules its 9M 2026 key figures for November 5, 2026, at 8:30 a.m., with CEO Estelle Brachlianoff and Deputy CEO Emmanuelle Menning presenting the update, according to Veolia. That date gives the market a defined checkpoint for testing the earnings-momentum concerns behind the recent target reductions.

Stock remains below revised targets

Veolia was trading at EUR 30.74 at Lang & Schwarz on October 8, 2026 at 11:43 a.m. CEST, minus 0.65 percent versus the EUR 30.94 prior close at Lang & Schwarz. The revised analyst targets remain above the intraday euro price, with the next company update scheduled for November 5, 2026. The further course of trading is shown by the continuously updated real-time quote of Veolia stock.