Wunderlich Securities Raises WCA Waste Corporation Price Target

Wunderlich Securities said that it maintains its Hold rating on WCA Waste Corporation

. At the same time, Wunderlich Securities is raising its price target to $5 from $4.50. “WCAA's 3Q results were below expectations but showed a return of pricing growth. WCAA appears on track to meet its FY10 revenue guidance of $225mm, but will need a very strong 4Q10 to achieve its EBITDA target of $55mm,” Wunderlich Securities writes. “The catalyst for a ratings change would be the return to positive free cash flow (

) growth and a clear path to deleverage the balance sheet to less than 3.5 times, treating the preferred as debt for this calculation, in our view.” WCA Waste Corporation currently trades at $4.99.