RBC Capital lowered the firm’s price target on Enviva to $4 from $10 and keeps a Sector Perform rating on the shares. Enviva recently reported earnings, withdrew its previous guidance, announced the transition of its current CFO to interim CEO and CFO and included going concern language in its filing, the analyst tells investors in a research note. The firm sees a range of outcomes, including a potential bankruptcy filing.
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Read More on EVA:
- Enviva downgraded to Market Perform from Strong Buy at Raymond James
- Enviva downgraded to Underweight from Neutral at JPMorgan
- Enviva rating suspended at Goldman Sachs after ‘going concern’ warning
- Enviva sinks after raising substantial doubt of remaining going concern
- Enviva withdraws guidance, sees significantly lower sales price in Q4
