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UPDATE: Wedbush Securities Reiterates Outperform Rating, Lowers PT on Casella Waste Systems

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UPDATE: Wunderlich Securities Reiterates On Casella Waste Systems On Transition Year To Better FCF
Earnings Scheduled For June 25, 2014

In a report published Friday, Wedbush Securities reiterated its Outperform rating on Casella Waste Systems (NASDAQ: CWST), but slightly lowered its price target from $7.00 to $6.00.

Wedbush Securities noted, “Reiterating OUTPERFORM as we expect near-term benefit from Hurricane Sandy over the next 1-2 quarters. We are maintaining our positive stance on shares of Casella Waste (CWST) given recent debt and equity financing which lower debt costs, reduction in fixed overhead costs and incremental EBITDA dollars forth coming from higher landfill volumes over the next 6-12 months. While we acknowledge that the waste sector continues to face landfill volume headwinds from the lack of meaningfully positive change in commercial and industrial activity, CWST's 2H:13 should benefit from: (i) incremental collection and landfill volumes from Hurricane Sandy and (ii) improvement in the pricing environment given government funding versus competitive marketplace. With the sale of Maine Energy (ME) on the horizon, CWST shares provide a favorable risk/reward profile. Accordingly, we are reaffirming our OUTPERFORM rating on CWST and are aggressive buyers at current levels.”

Casella Waste Systems closed on Thursday at $4.46.

Posted-In: Wedbush SecuritiesAnalyst Color Price Target Analyst Ratings

 

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