Covance PT Raised to $93.50 at ISI Group (CVD)
Investment analysts at ISI Group increased their target price on shares of Covance (NYSE:CVD) from $91.00 to $93.50 in a note issued to investors on Wednesday, AnalystRatings.Net reports. The firm currently has a “neutral” rating on the stock. ISI Group’s price target suggests a potential upside of 6.76% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Covance from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, October 10th. They now have a $88.70 price target on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Covance in a research note to investors on Monday, September 23rd. They set an “outperform” rating and a $101.00 price target on the stock. Finally, analysts at UBS AG initiated coverage on shares of Covance in a research note to investors on Tuesday, September 17th. They set a “buy” rating and a $96.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $87.44.
Shares of Covance (NYSE:CVD) traded down 1.88% during mid-day trading on Wednesday, hitting $87.58. 447,170 shares of the company’s stock traded hands. Covance has a one year low of $49.63 and a one year high of $91.99. The stock’s 50-day moving average is $86.98 and its 200-day moving average is $80.5. The company has a market cap of $4.791 billion and a price-to-earnings ratio of 30.06.
Covance (NYSE:CVD) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.83 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.80 by $0.03. The company had revenue of $606.70 million for the quarter, compared to the consensus estimate of $594.30 million. During the same quarter last year, the company posted $0.72 earnings per share. Covance’s revenue was up 11.4% compared to the same quarter last year. Analysts expect that Covance will post $3.20 EPS for the current fiscal year.
Covance Inc is a drug development services company providing a range of early-stage and late-stage product development services on a worldwide basis primarily to the pharmaceutical, biotechnology and medical device industries.
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