Waste Connections Inc. (WCN) PT Raised to $195 at Oppenheimer

Oppenheimer analyst Noah Kaye raised the price target on Waste Connections Inc. (NYSE: WCN) to $195.00 (from $192.00) while maintaining a Outperform rating.

The analyst commented: "We recently hosted WCN CEO Ron Mittelstaedt, CFO Mary Anne Whitney, and VP of IR Joe Box for investor meetings, with multiple takeaways. First, strategic efforts to boost labor retention and better leverage WCN's unique decentralized operating model should support favorable FY25 price-cost trends and continued strong execution into FY25. Second, election impacts should on balance positively impact WCN, with favorable tax, regulatory, and immigration policy supporting higher profitability, along with a constructive M&A outlook. Third, incremental recycling/RIN commodity softness will moderately impact 4Q24 results, with prospects for improvement likely becoming clearer during early FY25. Reflecting commodity/capex trends and core operating progress, we update FY24-26 estimates and take our PT to $195 (from $192)."

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