Casella Waste Systems (CWST) PT Raised to $67 at Stifel After Hosting Virtual Management Meetings

Stifel analyst Michael Hoffman raised the price target on Casella Waste Systems (NASDAQ: CWST) to $67.00 (from $65.00) after hosting John Casella (CEO), Ned Coletta (CFO), and Jason Mead (VP Finance) to virtual investor meetings on Jan 19th, 2021.

The analyst reiterated the Buy rating, stating "There is an active $100mm sales deal pipeline with 1H21 closings possible. Collection and disposal prices enter 2021 at or better than 2020 and 4Q20 volumes were less negative than expected. The Cares Act $5mm was repaid in 2020 on a strong finish to FCF. Any angst that the $132mm equity raise is not deployed in a timely manner seems unwarranted and CWST is poised to produce margin expansion and continue to compound FCF growth. We believe it is well on pace to reach $100mm FCF by 2024".

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