Morgan Stanley analyst Toni Kaplan maintains $Waste Connections (WCN.US)$ with a buy rating, and maintains the target price at $206.
According to TipRanks data, the analyst has a success rate of 58.2% and a total average return of 3.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Waste Connections (WCN.US)$'s main analysts recently are as follows:
Although the near-term growth outlook for Waste Connections has fallen short of expectations primarily due to reduced support from commodities, it is anticipated that several core value drivers for the business will continue to be favorable into 2025. These include robust pricing, enhancements in cost and productivity, as well as mergers and acquisitions.
Waste Connections surpassed Q3 consensus forecasts for top and bottom lines and increased its guidance for FY24. Its preliminary outlook for FY24 aligns with current market projections. Despite facing several challenges, the company has demonstrated robust execution. Positioned favorably for growth in core solid waste and potential margin improvement, Waste Connections is expected to benefit from its M&A pipeline and productivity measures, which may lead to favorable future estimate revisions.
Waste Connections' Q3 results slightly exceeded expectations, and the outlook for 2024 has been modestly improved. Furthermore, the initial commentary for 2025 suggests there is potential for further upside as the company continues to capitalize on 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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