RBC initiates Veolia with 'outperform' on strong growth profile post Suez merger
** RBC initiates coverage on Veolia VIE.PA with "outperform", citing the French waste and water management company's strong growth potential and macro resilience
** "The 'new' Veolia is in robust health following its successful Suez merger, with a declining leverage profile and double-digit DPS growth," RBC analyst Joseph Pepper says
** The broker expects Veolia's cost cutting plan to support around 12% revenue CAGR through FY 2027
** He also points to Veolia's defensive profile that provides resilience to macro headwinds, with limited exposure to falling power prices and French political uncertainty
** Out of 20 analysts covering Veolia, 16 rate it "buy" or "strong buy", with four at "hold"
Reporting by Alban Kacher
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