Wunderlich Securities Reiterates Buy and PT of $21 on Covanta Holding Corporation

Wunderlich Securities reiterates Buy and PT of $21 on Covanta Holding Corporation (NYSE: CVA). In a research report published today, Wunderlich stressed it believes the company will perform well in the UK market.

In the report, Wunderlich states, "We reiterate our Buy rating and $21 target on Covanta (CVA) shares... Without a federal energy policy in the U.S., growth is targeted in the U.K. with six active projects, of which two are nearing a conclusion. With a FCF yield of nearly 12%, the shares of CVA make for a compelling investment, in our view."

At the moment, Covanta's shares are trading around $16.40.

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