Wunderlich Reiterates Buy on Republic Services

Wunderlich is out with its report today on Republic Services

, reiterating Buy. In a note to clients, Wunderlich writes, "We reiterate our Buy rating and $37 target on Republic Services. The waste business has high barriers to entry. The industry's recent consolidation results in RSG and Waste Management

controlling 65% of the permitted U.S. disposal capacity. Like the railroads in 2000, the consolidation of the industry coupled with the essential nature and high barriers to entry support why its six-year trend of real price growth is sustainable." Shares of RSG closed Wednesday at $30.09, down 0.13% from Tuesday's close.