Brokerage Firm Rating Update on Covanta Holding Corporation (CVA)

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) : The most positive equity analysts on Covanta Holding Corporation (CVA) expects the shares to touch $21, whereas, the least positive believes that the stock will trade at $16 in the short term. The company is covered by 8 Wall Street Brokerage Firms. The average price target for shares are $18.38 with an expected fluctuation of $1.58 from the mean.


For the current week, the company shares have a recommendation consensus of Buy. Also, Macquarie initiates coverage on Covanta Holding Corporation (NYSE:CVA). In the latest research report, Macquarie announces the target price to $18 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. The rating by the firm was issued on August 25, 2016.

Covanta Holding Corporation (NYSE:CVA): The stock opened at $15.21 and touched an intraday high of $15.36 on Wednesday. During the day, the stock corrected to an intraday low of $15.07, however, the bulls stepped in and pushed the price higher to close in the green at $15.36 with a gain of 0.99% for the day. The total traded volume for the day was 1,112,703. The stock had closed at $15.21 in the previous trading session.

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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