JP Morgan Resumes Coverage of IESI-BFC After Its M&A Division Finishes Merger Deal (BIN, WSII)

JP Morgan's research arm has resumed coverage of IESI-BFC BIN due to the completion of its merger with Waste Services WSII. JP Morgan acted as exclusive advisor to IESI-BFC on the deal. Conflict of interest issues aside, JP Morgan analysts Scott Levine and Rodney Clayton point to strategic benefits, including increased sales, improved asset positioning, and a greater mix of profitable commercial businesses in the US, along with greater synergies, as compelling reasons for this merger. Coverage of IESI-BFC resumed with an Overweight rating and a price target of $25. Previously the price target was $16.00 Shares of BIN are currently trading at $19.33.