Imperial Capital Raises Price Target on Waste Connections (WCN) to $85 Following 2Q Report
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Imperial Capital reiterated an Outperform rating on Waste Connections Inc. (NYSE: WCN), and raised the price target to $85.00 (from $80.00), following the company's 2Q earnings report. WCN reported adjusted EPS of $0.66, above the consensus of $0.54. Revenue of $727.6mn exceeded estimates by $13mn.
Analyst Scott Levine commented, "We are maintaining our Outperform rating on WCN shares, and are raising our one-year price target to $85 from $80. Our price target is 12% above recent levels. In our view, WCN has one of the more attractive financial profiles in the Environmental Services industry, driven by its emphasis on exclusive and secondary waste markets, and accretion from the Progressive Waste acquisition. Given WCN’s growth potential and cash flow characteristics, we think its premium valuation is warranted."
Shares of Waste Connections Inc. closed at $75.85 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesEarnings, Definitive Agreement, Imperial Capital
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