Wedbush Reviews Investment Thesis on Waste Connections Following Q4

In a report published Wednesday, Wedbush Securities analyst Al Kaschalk reiterated an Outperform rating on

, but lowered the price target from $55.00 to $53.00. In the report, Wedbush Securities noted, "Our investment thesis on Waste Connections remains: (i) pricing dynamics of its franchise (exclusive) and secondary competitive markets; (ii) improving volume cadence including organic growth in the 1.5-2.0% range for near-term; (iii) new E&P waste disposal facilities being permitted are expected to help support E&P segment revenue; and (iv) FCF generation model adequately services acquisition debt while returning capital to shareholders from dividend growth and the recent resumption of the share repurchase program." Waste Connections closed on Tuesday at $46.15.