New York, September 20 (FinanceEnquiry.com) – Analysts at Wedbush Securities reiterate their OUTPERFORM rating on the shares of Waste Connections Inc (NYSE: WCN). The 12-month target price has been raised from $33.00 to $35.00.
In a research note published on September 19, the analysts mention that subsequent the September 17 press release of Waste Connections proclaiming the intended acquisition of R360 Environmental Solutions, Inc. (R360) worth $1.3 billion in cash, constructive attitude on shares of the company has been reaffirmed.
In addition to this, the business produces notably higher EBITDA margin (mid-50 percent range) contribution as compared to Waste Connections’ five-year range of 30 percent to 32.5 percent in 2007 to 2011, even though with 100 percent of its revenues tied to the energy markets, R360 is an environmental service firm.
Furthermore, in order to expand its revenue base from traditional solid waste services into end markets providing solid capital investment returns and secular growth or strong growth stories such as special waste, management of Waste Connections stays aggressive in its efforts and this has been indicated by the acquisition, although not to acknowledge the superior volatility and cyclicality associated with business, careless attitude will be carried, the analysts add further.
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