Covanta (NYSE:CVA) Rating Reaffirmed
In an interesting research report revealed on 10 December, The “Outperform” rating of Covanta (NYSE:CVA) shares was reaffirmed by Imperial Capital, who now has a $18.50 target price on the stock. Imperial Capital’s target price indicates a possible upside of 22.60% from the stock price of the company.
From a total of 11 analysts covering Covanta (NYSE:CVA) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 70% of the ratings are positive. The highest target price is $25 while the lowest target price is $17. The mean of all analyst targets is $20.45 with a 32.54% above today’s ($15.09) stock price. Covanta was the topic of 10 analyst reports since October 8, 2015 according to the firm StockzIntelligence Inc. Stifel Nicolaus downgraded shares on December 7 to “Hold” rating. Barclays Capital maintained CVA stock in a recent report from November 19 with “Equal-Weight” rating. Finally, Imperial Capital maintained the stock with “Outperform” rating in a report issued on an October 29.
The stock increased 0.47% or $0.07 on December 9, striking $15.09. Approximately shares of stock traded hands. Covanta Holding Corp (NYSE:CVA) has declined 28.04% since May 7, 2015 and is downtrending. It has underperformed by 26.11% the S&P500.
Covanta Holding Corporation is a holding company. The company has a market cap of $2.00 billion. Through its subsidiaries, the Company owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. It currently has negative earnings. Energy-from-waste serves two markets as both a sustainable waste management solution and as a source of clean energy.
According to Zacks Investment Research, “Covanta Holding Corporation is an internationally recognized owner and operator of large-scale Energy-from-Waste and renewable energy projects and a recipient of the Energy Innovator Award from the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy. Covanta’s Energy-from-Waste facilities provide communities with an environmentally sound solution to their solid waste disposal needs by using that municipal solid waste to generate clean, renewable energy.” Get a free copy of the Zacks research report on Covanta Holding Corp (CVA).