RBC downgrades Enviva to 'sector perform' on near-term headwinds

Enviva

19/08/2022 08:11

** RBC downgrades wood pellets producer Enviva Inc  EVA.N 
to "sector perform" from "outperform"
    ** Brokerage says near-term cost headwinds will likely cap
any "meaningful" upside; cuts price target to $76 from $78
    ** "We could become more constructive on the shares once we
gain additional clarity on EVA's ability to fully offset cost
increases" - RBC    
    ** Brokerage, however, sees longer-term potential for EVA
    ** One of six brokerages rate the stock "buy" and five
"hold"; their median PT is $76.50 - Refinitiv
    ** Shares, up ~8% this year, trading flat

 (Reporting by Subhadeep Chakravarty in Bengaluru)
 ((subhadeep.chakravarty@thomsonreuters.com))