UPDATE: Imperial Capital Initiates Coverage on Waste Connections on Multiple Positive Factors
In a report published Wednesday, Imperial Capital analyst Scott Levine initiated coverage on Waste Connections (NYSE: WCN) with an Outperform rating and $53.00 price target.
In the report, Imperial Capital noted, “We are initiating coverage with an Outperform rating and a one-year price target of $53, 15% above the recent share price. We think WCN has one of the most attractive financial profiles in the waste industry, due to its defensive business model, attractive positioning in E&P waste, and capacity to add value via accretive capital allocation. Given best-in-class profitability and attractive growth prospects (including potential acceleration in both solid and E&P waste), we think its premium multiple is warranted.”
Waste Connections closed on Tuesday at $46.03.
Latest Ratings for WCN
|Jan 2015||Stifel Nicolaus||Maintains||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.