UPDATE: Wedbush Lowers PT to $37 on Waste Connections

A report from Wedbush reiterates its Outperform rating and lowers its price target from $39 to $37 on Waste Connections

. The report states, “Maintain OUTPERFORM although company not immune to drop in fiber prices and sluggish economy. We are reaffirming our positive stance on shares of Waste Connections (

) despite lowering our earnings model assumptions for the recent drop in fiber prices, including old corrugated cardboard (OCC) and old newsprint (

), and shifts in revenue-mix assumptions and overall volume assumptions which we are moderating lower.” WCN closed yesterday at $32.50.