Citi keeps Hold rating for Veolia stock with EUR 37.50 target

Published on 10/22/2026 at 11:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue was EUR 22.19 billion, up 0.70 percent year over year. Veolia stock costs EUR 31.61 on October 22, 2026, 1.28 percent below Xetra close.

Analyst view and operating scale

Citi maintained a Hold rating and a EUR 37.50 price target on October 16, 2026.
Veolia reported EUR 22.19 billion of first-half revenue, up 0.70 percent year over year.
Veolia stock trades at EUR 31.61 at 11:46 a.m. CEST at Lang & Schwarz on October 22, 2026, 1.28 percent below the Xetra close of October 21, 2026.

Aquarell Pariser Flusslandschaft mit Anlage, Veolia Environnement S.A., FR0000124141 — Veolia Environnement S.A. (FR0000124141) illustriert in zartem Aquarell eine Pariser Flusslandschaft mit Kläranlage und Stadtkulisse, Illustration mit AI erstellt.

Veolia stock (ISIN FR0000124141) was trading at EUR 31.61 at Lang & Schwarz on October 22, 2026, at 11:46 a.m. CEST, down 1.28 percent versus the Xetra close of October 21, 2026 at EUR 32.02. Citi maintained a Hold rating and a EUR 37.50 price target on October 16, 2026, according to Markets Insider.

What does the target imply?

The target stands 18.64 percent above the Lang & Schwarz price. Citi's view leaves the stock below the EUR 37.00 targets cited for Deutsche Bank and Morgan Stanley, while keeping the rating at Hold.

Veolia's operating base offers a counterweight to the cautious valuation view. First-half 2026 revenue reached EUR 22.19 billion, up 0.70 percent year over year, while EBITDA reached EUR 3.55 billion, up 5.00 percent at constant scope and exchange rates, according to Ideal Investor.

Three dated catalysts shape the case

On September 30, 2026, Veolia was selected for a EUR 1.00 billion drinking-water contract in Barcelona running for 25 years. On October 7, 2026, Deutsche Bank cut its target from EUR 39.00 to EUR 37.00 while keeping a Buy rating. On October 16, 2026, Citi maintained its Hold rating with a EUR 37.50 target, as Markets Insider reported.

When is the next company update?

Veolia is scheduled to present its nine-month 2026 key figures on November 5, 2026, at 8:30 a.m. Paris time, according to the company's finance page. The release should provide the next quantified test of revenue growth, profitability and the integration of Clean Earth.

Stock trades below the analyst targets

The current euro quote puts Veolia 1.28 percent below the Xetra close of October 21, 2026. The market is therefore weighing a EUR 37.50 analyst target against a near-term price of EUR 31.61, while the next company figures are scheduled for November 5, 2026. Veolia's water, waste and energy businesses give the valuation discussion an operating base rather than a single-project story.

Veolia was trading at EUR 31.61 at Lang & Schwarz on October 22, 2026, at 11:46 a.m. CEST, 1.28 percent below the Xetra close of October 21, 2026 at EUR 32.02. The further course of trading is shown by the continuously updated real-time quote of Veolia stock.