UPDATE: Imperial Capital Initiates Coverage on Progressive Waste Solutions Ltd. with Outperform Rating, $31 PT on Multiple Positive Factors

In a report published Friday, Imperial Capital analyst Scott Levine initiated coverage on

with an Outperform rating and $31.00 price target. In the report, Imperial Capital noted, “We are initiating coverage of BIN shares with an Outperform rating and a one-year price target of $31, 20% above the recent share price. BIN shares have recently begun to find their footing, driven by improving late-cycle growth prospects, increasing capital discipline, and potential for increased capital returns following its recent focus on debt reduction. We see potential for the trading multiple to expand, particularly if margins and ROIC move higher, as we expect.” Progressive Waste Solutions Ltd. closed on Thursday at $25.81.