Enviva $EVA Stock Testing Downtrend Channel Wall On Raymond James Strong Buy Rating

  • Post category:Analysts Activity
  • Reading time:2 mins read
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Enviva $EVA stock is testing its lower downtrend channel wall on October 18, 2022, as Raymond James upgraded the stock to a Strong Buy rating.

Enviva upgraded to Strong Buy from Outperform at Raymond James

On October 18, 2022, Raymond James analyst Pavel Molchanov upgraded Enviva to Strong Buy from Outperform with an unchanged price target of $80. The pressure on Enviva shares caused by the short report last week is a textbook example of sentiment-based multiple compression. Molchanov thinks the stock’s recent plunge provides an interesting entry point, especially considering the rising dividend payout.

Raymond James and Citi are really pushing the short squeeze on Blue Orca but it appears Blue Orca is winning that battle.

Enviva $EVA Stock Technical Analysis

Enviva $EVA stock is in a technical strong downtrend rating. It has broken below its downtrend channel wall (grey dotted lines). The MACD and money flow continue to favor the Bears.

Enviva stock chart on October 18, 2022, negative MACD and negative money flow.

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