Covanta (CVA) PT Lowered to $17 at Baird Following 4Q Call
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Price: $20.26 --0%
Rating Summary:
9 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
9 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Baird lowered its price target on Covanta (NYSE: CVA) to $17.00 (from $19.00) while maintaining a Outperform rating following the company's 4Q conference call. Analyst Ben Kallo believes that shares are likely to face near-term pressure as investors recalibrate expectations following lower-than-expected guidance.
Management indicated that a weaker-than-expected FCF generation in 2018 is a short-term phenomenon and targets $250M of annual FCF by the mid-2020s. The company remains committed to maintaining its current dividend policy.
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Robert W Baird, Ben KalloSign up for StreetInsider Free!
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