Hudson River Clean-Up Starts Spring 2011, Wunderlich Raises PT On ECOL
Wunderlich Securities has published a research report on US Ecology Inc. (NASDAQ: ECOL) in response to the company's announcement that the Hudson River Clean-up is scheduled to being in Spring 2011.
In the report, Wunderlich writes "The company has an irreplaceable set of treatment, recycling, and disposal assets in the highly regulated hazardous waste market. Looking forward, we believe a stable to slow growth economy should help restart organic growth with significant potential from increased government environmental spending and synergies from its 4Q10 acquisitions. In addition, the recent announcement by General Electric (GE-NR) to move forward with the final phase of the Hudson River clean-up should provide ECOL with an incremental $7mm-$9mm of annual revenue over the next five to seven years."
Wunderlich maintains its Buy rating and has raised the price target from $18 to $20.
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