Stifel Upgrades Casella Waste Systems (CWST) to Buy

Stifel analyst Michael Hoffman upgraded Casella Waste Systems (NASDAQ: CWST) from Hold to Buy with a price target of $32.00 (from $30.00).

The analyst comments "We expect CWST will raise its 2021 FCF target from $50mm to $60mm to $70mm. That provides a baseline FCF coupled with a 10-year and long-term FCF growth outlook of 7.9% and 6.0% that supports our PT of $32. FY19 should be another year of better reported price, buoyed by rising collection and disposal prices. Annual landfill capacity increases as CWST expands into previously issued permit expansions in upstate New York. In addition, it should benefit from increased throughput at its Holyoke transfer station. All together that leads to 15% FY19E FCF growth and better FCF conversion of the business model."

For an analyst ratings summary and ratings history on Casella Waste Systems click here. For more ratings news on Casella Waste Systems click here.

Shares of Casella Waste Systems closed at $26.39 yesterday.

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