Jefferies analyst Stephanie Moore maintains $Waste Connections (WCN.US)$ with a buy rating, and adjusts the target price from $217 to $225.
According to TipRanks data, the analyst has a success rate of 66.1% and a total average return of 19.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Waste Connections (WCN.US)$'s main analysts recently are as follows:
Following Waste Connections' Q3 results, it was noted that the near-term growth outlook did not meet expectations, primarily due to reduced support from commodities. However, it is anticipated that several core value drivers for the business, such as robust pricing, cost and productivity enhancements, and mergers and acquisitions, will continue to have a positive impact into 2025.
Waste Connections surpassed Q3 expectations for both revenue and earnings and has increased its guidance for FY24, with its preliminary outlook for the same period aligning with general market projections. Despite facing numerous challenges, the company's execution continues to be solid. It is well situated to achieve growth in its core solid waste segment and improve margins, thanks to a strong M&A pipeline and productivity improvements, which are expected to lead to favorable future earnings revisions.
The company's third-quarter results slightly exceeded expectations, and the guidance for 2024 has been revised upwards. Additionally, initial commentary for 2025 suggests there may be room for further improvement as the company continues to pursue its merger and acquisition opportunities.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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