William Blair analyst Trevor Romeo has reiterated their bullish stance on CWST stock, giving a Buy rating on October 17.
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Trevor Romeo’s rating is based on several positive developments for Casella Waste Systems. The company has shown a strong financial performance in the third quarter, with both revenue and adjusted EBITDA surpassing market expectations. This rebound is particularly noteworthy after a challenging period marked by a significant sell-off in the stock. Casella’s focus on solid waste and recycling positions it favorably compared to other segments of the waste management sector that are currently facing difficulties.
Moreover, Casella has made progress in improving its margins, which had been under pressure due to integration issues in the Mid-Atlantic region. The company has also increased its full-year revenue and EBITDA guidance, suggesting confidence in its future performance. Additionally, Casella’s organic revenue growth has been robust, driven by strong volumes in solid waste collection and disposal. These factors collectively support Trevor Romeo’s decision to rate Casella Waste with a Buy recommendation.
Romeo covers the Industrials sector, focusing on stocks such as Korn Ferry, Casella Waste, and ManpowerGroup. According to TipRanks, Romeo has an average return of -8.1% and a 22.73% success rate on recommended stocks.
In another report released on October 17, TD Cowen also reiterated a Buy rating on the stock with a $0.00 price target.