Covanta (CVA) Added to Wedbush Best Ideas List

Wedbush analyst Al Kaschalk added Covanta (NYSE: CVA) to the Best Ideas List while reiterating an Outperform rating and bumping its price target to $27.00 (from $26.00).

Kaschalk commented, "While the CEO transition is underway at Covanta Holding Corp. (CVA), we expect improvements to enhance an irreplaceable asset base in following areas: (i) productivity improvements to run operations more profitably; (ii) expand service capabilities with existing clients; and (iii) structure investments in new markets that could leverage CVA's operating expertise. As we are more confident that additions to the business portfolio, changes in the senior management and lean initiatives will be supporting factors for future cash flow, dividend growth and stock price appreciation, the Wedbush Investment Committee is adding CVA to the BIL."

For an analyst ratings summary and ratings history on Covanta click here. For more ratings news on Covanta click here.

Shares of Covanta closed at $21.14 yesterday.

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