Wells Fargo analyst John Mazzoni raised the firm’s price target on Waste Connections (WCN) to $170 from $160 and keeps an Overweight rating on the shares. The firm notes Waste Connections inked a deal to acquire Canadian E&P assets from Secure Energy Services (SECYF), representing $225M revenue and $130M EBITDA equating to 6.5t-times EV/EBITDA on $850M consideration. Net, the deal is 50bps+ margin accretive and represents upside to consensus, Wells says.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on WCN:
- Waste Connections to acquire Secure Energy waste disposal-centric divestitures
- WASTE CONNECTIONS ANNOUNCES AGREEMENT TO ACQUIRE SECURE ENERGY’S WASTE DISPOSAL-CENTRIC ASSET DIVESTITURES IN WESTERN CANADA
- Waste Connections price target lowered to $146 from $148 at Oppenheimer
- Waste Connections initiated with an Overweight at Wells Fargo
- Waste Connections downgraded to Peer Perform from Outperform at Wolfe Research
