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UPDATE: Imperial Capital Initiates Coverage on Waste Connections on Multiple Positive Factors

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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

DateFirmActionFromTo
Jul 2015MacquarieMaintainsOutperform
Jul 2015KeyBancUpgradesSector WeightOverweight
Apr 2015Stifel NicolausMaintainsBuy

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