Veolia Price Target, Estimates Revised as RBC Highlights 'Unique' Market Position

06:48 AM EDT, 08/19/2026 (MT Newswires) -- RBC Capital Markets bumped up its price target for Veolia Environnement (VIE.PA) to 41.50 euros from 40.50 euros, highlighting the company's "unique" market position as an "environmental services" group. "We revisit our valuation framework for Veolia, where despite modest YTD outperformance, our analysis of secondary business segments implies 22% base case upside, with the current share price reflecting a 23% conglomerate discount. We see asset rotation and guidance updates as potential catalysts to narrow this," the research firm said Wednesday, reaffirming the outperform rating on the stock. RBC made "modest" changes to its financial estimates for 2026 through 2028 on the back of an improved foreign exchange outlook. "Overall EBITDA estimates move [less than] 1% over the forecast period, and we remain in-line to ~2% ahead of consensus on EBITDA basis and 1-6% ahead on EPS basis." Analysts added that the French company remains undervalued amid a lack of direct listed industry peers that overlap all three water, waste and energy management services. It also continues to report divisional performance primarily by geography, which complicates its valuation.