Morgan Stanley cuts Veolia target to EUR 35 for Veolia stock

Published on 10/15/2026 at 11:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Morgan Stanley cut its target to EUR 35 from EUR 38 on October 7, 2026. Veolia stock costs EUR 32.36 on October 15, 2026.

Financial figures and key dates

Morgan Stanley revised its assessment on October 7, 2026.
Veolia reported EUR 22.19 billion of first-half revenue and 0.70 percent growth.
Veolia stock trades at EUR 32.36 at 11:00 a.m. CEST at Lang & Schwarz on October 15, 2026.
Veolia will present nine-month figures on November 5, 2026.

Isometrische Grafik Wasserkreislauf, Veolia Environnement S.A., FR0000124141 — Veolia Environnement S.A. (FR0000124141) visualisiert isometrisch die Wertschöpfungskette von Sammlung, Aufbereitung und Wasserverteilung im Kreislauf, Illustration mit AI erstellt.

Veolia (ISIN FR0000124141) was trading at EUR 32.36 at Lang & Schwarz on October 15, 2026 at 11:00 a.m. CEST. Yahoo Finance reported on October 7, 2026 that Morgan Stanley kept its Equal-weight rating and cut its Veolia target from EUR 38 to EUR 35.

The target cut sets a lower bar

Morgan Stanley linked the change to a higher discount rate and cited weak earnings momentum, while also pointing to high diesel prices as a short-term pressure. The revised target remains EUR 2.64, or 8.16 percent, above the Lang & Schwarz price calculated from the two euro values.

The bank also described Veolia as the least exposed among French utilities to political developments, with about 20 percent of revenue coming from France. That assessment gives the target change a specific operating context, but the report also identified higher bond yields as a small negative influence.

What does the target cut mean?

Veolia's latest reported operating picture came from the first half of 2026. Revenue reached EUR 22.19 billion, up 0.70 percent, while net income reached EUR 671.00 million, up 1.20 percent from the first half of 2025, according to Simply Wall St. The figures show modest revenue growth alongside a slightly stronger earnings contribution.

Next reporting date is November 5

Veolia's investor-relations calendar schedules the presentation of its nine-month 2026 key figures for November 5, 2026 at 8:30 a.m. The event will provide the next company update on revenue, earnings and the effect of the group's environmental-services expansion, according to Veolia.

Price holds the investor focus

Veolia operates across water, waste and energy management and provides drinking water services to 95 million people. Its business mix makes the upcoming nine-month figures important for judging whether the earnings concerns cited by Morgan Stanley are visible in operating results.

The stock was trading at EUR 32.36 at Lang & Schwarz on October 15, 2026 at 11:00 a.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Veolia stock.