TD Securities Upgrades Progressive Waste Solutions (BIN) to Action List Buy

TD Securities upgraded Progressive Waste Solutions (NYSE: BIN) from Buy to Action List Buy with a price target of $26.00.

Analyst, Damir Gunja, said, "We believe that the shares offer compelling value – given BIN’s attractive valuation (5.9x F2013 EBITDA), strong free cash flow, solid dividend, steady share buybacks, defensive industry characteristics, domestic market exposure, low market expectations, and the potential for accretive acquisitions. In our view, investor sentiment will improve on the waste group and BIN is poised for outsized returns as it currently trades at an unjustified discount to the group."

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 $17.77 yesterday.

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