BMO Capital Markets Reiterates Outperform, $24 Target on Progressive Waste Solutions

BMO Capital Markets reiterates its rating of Outperform with a $24 target price on Progressive Waste Solutions

on in-line Q4 and flat-to-modest EBITDA in 2012. BMO Capital Markets says, "While operations in Canada and the U.S. South reported strong results, the U.S. Northeast continued to experience margin pressure owing to a challenging operating environment. Without a dominant player in this market, pricing in the U.S. Northeast has become more competitive due to softening volumes. Largely due to headwinds from economic softness in the U.S. Northeast and lower recycled commodity prices, Progressive's guidance suggests flat to modestly higher EBITDA in 2012." BIN closed at $20.48 a share yesterday.