In a report released today, Noah Kaye from Oppenheimer maintained a Buy rating on Waste Connections Inc (WCN), with a price target of $93. The company’s shares closed yesterday at $85.19, close to its 52-week high of $85.92.
Kaye noted:
“We recently hosted WCN CFO for investor meetings in the Midwest. We believe WCN’s conservativism on 1Q volume and recycling outlook looks prudent in light of weather/recycling commodity softness. At the same time, pricing remain strong, cost trends look in line, and healthy M&A activity could drive upside to FY numbers. We believe double-digit FCF growth per share remains achievable over our investment horizon and note shares have historically hewn to that FCF growth trajectory over time. We maintain our Outperform rating.”
According to TipRanks.com, Kaye is a 4-star analyst with an average return of 6.6% and a 56.8% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation Inc, Caterpillar, and BorgWarner.
Waste Connections Inc has an analyst consensus of Strong Buy, with a price target consensus of $91.86.
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Based on Waste Connections Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $132 million. In comparison, last year the company had a net profit of $315 million.
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Waste Connections, Inc. engages in the provision of solid waste services. Its services include waste collection, transfer, disposal, treatment and recycling. It also provides non-hazardous exploration and production, waste treatment, recovery and disposal services.