Veolia cut to Neutral at Goldman Sachs

Veolia Environnement SA (VE -2.5%) slips this morning on the back of a downgrade by Goldman Sachs to Neutral from Buy on valuation.

The firm says earnings came in below its forecast, largely on what it sees as a buildup in pricing pressures.

No price target information was available.

Of note: The stock has been on a tear since Goldman upgraded the shares in a remarkably well-timed call in early July, having rocketed over 40% during the short period.

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