KeyBanc Upgrades Progressive Waste Solutions (BIN) to Overweight
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Rating Summary:
6 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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KeyBanc upgraded Progressive Waste Solutions (NYSE: BIN) from Sector Weight to Overweight with a price target of $32. The change follows meetings with management. Analyst Joe Box thinks its restructuring initiatives are gaining traction.
"Recent meeting with mgmt, tour of its St. Louis operation suggest BIN’s restructuring initiatives gaining traction. While NT results could remain choppy, may be masked by FX, commodity headwinds and front-loaded operational expenses, we believe greater evidence of successful restructuring could lead to robust earnings growth, even multiple expansion over time. As such, we believe risk/reward favorable, are upgrading to OW from SW and introducing $32 PT," said Box.
For an analyst ratings summary and ratings history on Progressive Waste Solutions click here. For more ratings news on Progressive Waste Solutions click here.
Shares of Progressive Waste Solutions closed at $26.99 yesterday.
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