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Wedbush Upgrades Progressive Waste Solutions (BIN) to Outperform

May 19, 2014 7:30 AM EDT
Get Alerts BIN Hot Sheet
Price: $31.61 --0%

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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Wedbush upgraded Progressive Waste Solutions (NYSE: BIN) from Neutral to Outperform with a price target of $30.00 (from $26.00).

Analyst Al Kaschalk said, "Upgrading to OUTPERFORM from NEUTRAL as we believe pieces are in place to drive higher operational performance, return on capital and FCF generation. Our upgrade of Progressive Waste Solutions is based on our view that management has put in place a more disciplined capital allocation strategy and, combined with increased operational rigor and automation, BIN is now positioned to drive operating results. As operational improvements take hold and management maintains disciplined capital allocation strategy including growth capital, we see favorable risk/reward to earnings model expectations especially as BIN’s more profitable Canadian operation benefits from recovering economic activities, easing comparisons and new contract wins."

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 $24.69 yesterday.



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