In a report released yesterday, Noah Kaye from Oppenheimer maintained a Buy rating on Covanta Holding (CVA), with a price target of $16.00. The company’s shares closed last Tuesday at $14.93, close to its 52-week high of $16.13.
According to TipRanks.com, Kaye is a 5-star analyst with an average return of 17.7% and a 64.5% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation, Johnson Controls, and Dana Holding.
Covanta Holding has an analyst consensus of Strong Buy, with a price target consensus of $15.33, which is a 3.7% upside from current levels. In a report issued on January 29, Barclays also maintained a Buy rating on the stock with a $16.00 price target.
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Based on Covanta Holding’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $491 million and net profit of $5 million. In comparison, last year the company earned revenue of $465 million and had a net profit of $14 million.
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Covanta Holding Corp. engages in the operation and ownership of infrastructure for the conversion of waste to energy, related waste transport and disposal, and other renewable energy production businesses. It operates large-scale Energy-from-Waste and renewable energy projects. The company was founded on April 16, 1992 and is headquartered in Morristown, NJ.
