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BofA Securities Reiterates Buy Rating on Waste Connections Inc. (WCN)

October 7, 2024 6:07 AM EDT
Get Alerts WCN Hot Sheet
Price: $167.90 +1.02%

Rating Summary:
    22 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 20 | New: 25
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BofA Securities analyst Michael Feniger reiterated a Buy rating and $205.00 price target on Waste Connections Inc. (NYSE: WCN).

The analyst comments "Revenue growth decelerated from the mid-20% to high-single-digits as COVID accelerated expansion within the installed base, sales leadership turned over in light of execution issues, and the macro pressures globally held back large enterprise expansion. However, the company's shift to profitability has caused shares to re-rate, and we continue to see upside to FCF and EPS targets all while CRM is entering a product cycle around GenAI, where we see new products, pricing and bundling, and SKU upgrades to support growth. We believe adoption of new products and sustained pricing power can drive a durable top-line, while margins continue to inflect as the risk of dilutive large scale M&A appears to be dissipating. Risks to the downside include macro headwinds, further executive turnover, large scale M&A, and execution."

For an analyst ratings summary and ratings history on Waste Connections Inc. click here. For more ratings news on Waste Connections Inc. click here.

Shares of Waste Connections Inc. closed at $176.41 yesterday.



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