UPDATE: Goldman Sachs Lowers Waste Connections Estimates
According to a research report this morning, Goldman Sachs lowers 1Q12/2012/2013 Waste Connections (NYSE: WCN) EPS estimates from $.32/$1.60/$1.85 to $.31/$1.50/$1.70 to take into consideration the 12 mn in equity issuance.
Goldman Sachs continued, “This is slightly offset by tailwinds from a better-than expected OCC pricing environment and improving 2012 volumes. We introduce our 2014 EPS estimate of $1.95. Our 12-month price target of $38 is based on 10.5X NTM EBITDA of $522mn.”
Waste Connections closed yesterday at $32.75. Goldman Sachs maintains its Neutral rating.
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