Share on StockTwits

Equities research analysts at Credit Suisse cut their price target on shares of Covance (NYSE:CVD) from $112.00 to $100.00 in a research note issued to investors on Tuesday, AnalystRatings.NET reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price target indicates a potential upside of 21.32% from the stock’s previous close.

A number of other analysts have also recently weighed in on CVD. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of Covance in a research note on Monday. They now have a $93.00 price target on the stock. Separately, analysts at Piper Jaffray upgraded shares of Covance from a “neutral” rating to an “overweight” rating in a research note on Monday. They now have a $99.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at KeyCorp cut their price target on shares of Covance from $120.00 to $100.00 in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $93.96.

Shares of Covance (NYSE:CVD) traded down 0.73% on Tuesday, hitting $81.83. 516,638 shares of the company’s stock traded hands. Covance has a 52-week low of $71.84 and a 52-week high of $106.50. The stock’s 50-day moving average is $97.96 and its 200-day moving average is $93.8. The company has a market cap of $4.556 billion and a price-to-earnings ratio of 25.99.

Covance (NYSE:CVD) last released its earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.90. The company had revenue of $620.10 million for the quarter, compared to the consensus estimate of $632.01 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts expect that Covance will post $3.83 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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.