Wells Fargo analyst John Mazzoni initiated coverage of Casella Waste with an Overweight rating and $95 price target. Casella is a leading regional solid waste player with “significant runway” in terms of acquisitions, self-help, and consolidation given its Northeast concentration, the analyst tells investors in a research note. The firm sees “impressive” free cash flow growth and “lofty, but obtainable,” long-term financial targets. The stock’s premium multiple is warranted, contends Wells.
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