Morgan Stanley cuts target for Veolia stock to EUR 35.00

Published on 10/14/2026 at 11:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue reached EUR 22.193 billion in the first half of 2026, up 1.50 percent. Veolia stock trades at EUR 32.16 on October 14, 2026, 1.20 percent above EUR 31.78.

Analyst target and operating results

Morgan Stanley cut its Veolia target from EUR 38.00 to EUR 35.00 on October 7, 2026.
First-half 2026 revenue reached EUR 22.193 billion, up 1.50 percent.
Veolia stock trades at EUR 32.16 at 11:51 a.m. CEST at Lang & Schwarz on October 14, 2026, 1.20 percent above the Xetra close of October 13, 2026.

Makroaufnahme Wassertropfen auf Filtergewebe mit Aktivkohle, Veolia Environnement S.A — Veolia Environnement S.A. (FR0000124141) fokussiert in Makroaufnahme Wassertropfen auf feinem Filtergewebe neben Aktivkohle-Granulat, Illustration mit AI erstellt.

Veolia stock (ISIN FR0000124141) was trading at EUR 32.16 at Lang & Schwarz on October 14, 2026, at 11:51 a.m. CEST, 1.20 percent above the Xetra close of October 13, 2026, at EUR 31.78. On October 7, 2026, Morgan Stanley cut its Veolia target from EUR 38.00 to EUR 35.00 and kept an Equal Weight rating, as Borse Express reported.

Three dated signals for Veolia

On July 30, 2026, Veolia reported first-half revenue of EUR 22.193 billion, up 1.50 percent at constant scope and foreign exchange excluding energy prices. The same release showed EBITDA of EUR 3.552 billion, up 5.00 percent, and current net income of EUR 837.00 million, up 10.40 percent, according to Veolia.

On September 30, 2026, Veolia announced that it had been selected for a EUR 1.00 billion, 25-year drinking-water contract covering eight municipalities in the Barcelona metropolitan area and more than 230,000 residents, according to Veolia. The proposed ranking still preceded the final award, keeping execution and formal completion as relevant details for investors.

On October 7, 2026, Morgan Stanley cited higher bond yields when reducing its target, while Deutsche Bank also cut its target from EUR 39.00 to EUR 37.00 and retained a Buy rating, Borse Express reported. The split between improving operating figures and lower valuation multiples puts financing conditions alongside execution at the center of the share story.

What does the next report add?

Veolia's finance calendar lists November 5, 2026, for its 9M 2026 key figures and specifies an 8:30 a.m. presentation, according to Veolia. The company's first-half release also lists February 17, 2027, for full-year 2026 results, giving investors a second dated checkpoint for the guidance trajectory.

Price reflects a measured rebound

The current EUR 32.16 quote is 1.20 percent above the Xetra close of EUR 31.78 from October 13, 2026. The move leaves the stock below the EUR 37.66 52-week high and places the latest analyst targets above the market price, while the first-half figures provide a concrete operating counterweight to the rate-driven valuation pressure.

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