WCN Closes Q4 with Momentum

Analysts at Wunderlich Securities maintain their "buy" rating on Waste Connections Inc (NYSE: WCN). The target price for WCN is set to $40.

According to Wunderlich Securities, Waste Connections reported its Q4 EPS inline with and revenues ahead of the consensus. WCN’s “2010 FCF could be greater than forecast due to bonus depreciation and landfill tax credits,” the analysts say.

“WCN does not needlessly raise capital unless it has a clear picture of how to deploy it to create shareholder Value,” the analysts mention. “Following the $175mm debt raise in fall 2009, we expect WCN could exceed its normal acquisition growth of $40mm to $60mm in 2010,” the analysts add.

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