Wunderlich Securities Reiterates Covanta Buy, $21 PT

Wunderlich Securities reiterated its Covanta CVA Buy rating and $21 price target in a research report published today. In the report, Wunderlich Securities states, "We reiterate our Buy rating and $21 target on Covanta (CVA) shares. Last Friday, the new Irish Minister of the Environment, Phil Hogan, issued a statement that the government will not impose a levy on incineration. This removes a significant hurdle for CVA to successfully renegotiate a new build and operate contract for the Dublin waste-to-energy (WTE) project." Shares of Covanta were trading at $16.83 at the time of posting, down 1.46% from Friday's market close.