From Barrons via the WSJ Online:
Shares of Veolia Environnement, the world's largest water company, have fallen 5%, to about $80, in U.S. trading after hitting an all-time high in May.(this story is from 3 weeks ago)
But the French concern, whose sweet-sounding name is matched by its growth prospects, is poised to hit a new high-water mark in the coming year.
"It had a good run and is consolidating previous gains until it takes another leg up," says analyst Michael Gaugler of Brean Murray Carret. "The shares are trading off their recent high at a time when earnings power is accelerating."
Veolia, which manages water services for cities and corporations world-wide, is profiting from a global scramble for water. Less than 1% of the world's supply of water is drinkable and populations are soaring, so many municipalities are turning to private players to help ease the shortage....MORE
I like this one. The balance sheet is a bit constrained, but they just got an upgrade and are definitely in the right business.
