Covanta Holding Corporation (CVA) Receives Analyst Rating

Covanta Holding Corporation (CVA) : 6 brokerage houses believe that Covanta Holding Corporation (CVA) is a Strong Buy at current levels. 2 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Covanta Holding Corporation (CVA). Zacks Investment Research suggests a Strong Sell with a rank of 5.The median of all the 8 Wall Street Analysts endorse the stock as a Strong Buy with a rating of 1.5.

Covanta Holding Corporation (CVA) : 8 Wall Street analysts covering Covanta Holding Corporation (CVA) believe that the average level the stock could reach for the short term is $18.38. The maximum price target given is $21 and the minimum target for short term is around $16, hence the standard deviation is calculated at $1.58.


Also, Macquarie initiates coverage on Covanta Holding Corporation (NYSE:CVA) In a research note issued to the investors, the brokerage major announces price-target of $18 per share.The shares have been rated Neutral. The rating by the firm was issued on August 25, 2016.

Covanta Holding Corporation (NYSE:CVA): After opening at $14.64, the stock dipped to an intraday low of $14.64 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $15.02 and the buying power remained strong till the end. The stock closed at $15 for the day, a gain of 1.97% for the day session. The total traded volume was 863,559. The stocks close on the previous trading day was $14.71.

Covanta Holding Corporation is a holding company. 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. Energy-from-waste (EfW) serves two markets as both a sustainable waste management solution and as a source of clean energy. The Company operate and/or have ownership positions in 46 EfW facilities, which are primarily located in North America, and 11 additional energy generation facilities, including other renewable energy production facilities in North America (wood biomass and hydroelectric). In total, these assets produce approximately 10 million megawatt hours (MWh) of baseload electricity. The Company also operates a waste management infrastructure, including 18 transfer stations. The Company also operates, and in some cases has ownership interests in, transfer stations and landfills.

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