Enviva is Not a Buy Even After 60% Stock Drop
<p><a href='https://financialmodelingprep.com/financial-summary/EVA'>Enviva Inc (NYSE:EVA)</a> had a rough start to the year with a Q1/23 miss coupled with a guidance reduction and dividend elimination. The company lowered its 2023 adjusted EBITDA guidance to $200-250 million from the $305-$335 million it had affirmed at its investor day on April 3. </p>
<p>Although the stock is down around 61% since the earnings release on May 3, analysts at RBC Capital said they will remain on the sidelines until having more visibility into costs and contracted cash flow and see a material improvement in execution. The analyst cut their price target on the stock to $10 from $32 while reiterating their Sector Perform rating.</p>

NYSE:EVA