Wunderlich Securities Reiterates Buy on Casella Waste Systems, Reduces PT to $8.50

Wunderlich Securities reiterates its Buy rating on Casella Waste Systems CWST. At the same time, Wunderlich reduced its price target on the company's stock to $8.50. In a research report published today, Wunderlich states, "We are reaffirming our Buy rating but are reducing our price target to $8.50 on Casella Waste (CWST) shares. Not surprising, 4Q11 was sloppy, and as the baseline for improvement sets a low starting point, correspondingly, FY12 guidance is muted at best... The quarterly progress to expand margins is likely to be modest in 1Q, 2Q, and gains momentum in 3Q and 4Q, with 1Q13 at or near the 25% target." At the moment, Casella is trading around $5.69, or 2.34% above yesterday's close.