CIBC raised the firm’s price target on Waste Connections to $193 from $191 and keeps an Outperformer rating on the shares. The firm says the company’s Q2 results reaffirmed its thesis that the stock remains a core holding. Waste Connections has a “long runway to continue to outperform” which will allow it to maintain its premium valuation, the analyst tells investors in a research note. CIBC does not see any existential risks facing the solid waste sector and says Waste Connections’ management team has proven to be strong operators.
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