Covanta Holding Corporation (CVA) stock is expected to deviate a maximum of $1.58 from the average target price of $18.38 for the short term period. 8 Street Experts have initiated coverage on the stock with the most promising target being $21 and the most muted being $16.
Covanta Holding Corporation (CVA) : Zacks Investment Research ranks Covanta Holding Corporation (CVA) as 5, which is a Strong Sell recommendation. 6 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 2 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 8 research analysts is 1.5, which indicates as a Strong Buy.
Also, Macquarie initiates coverage on Covanta Holding Corporation (NYSE:CVA).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Macquarie announces the price target of $18 per share. The rating by the firm was issued on August 25, 2016.
Covanta Holding Corporation (NYSE:CVA): The stock opened at $14.83 on Thursday but the bulls could not build on the opening and the stock topped out at $14.96 for the day. The stock traded down to $14.78 during the day, due to lack of any buying support eventually closed down at $14.84 with a loss of -0.34% for the day. The stock had closed at $14.89 on the previous day. The total traded volume was 787,009 shares.
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.