Waste Connections price target lowered to $192 from $194 at Oppenheimer

Oppenheimer lowered the firm’s price target on Waste Connections (WCN) to $192 from $194 and keeps an Outperform rating on the shares. Waste Connections beat Q3 top and bottom line consensus expectations and raised FY24 guidance while its preliminary FY24 framework was in line with the Street, the analyst tells investors in a research note. Execution remains strong and the Q3 beat happened despite multiple headwinds, the firm says. Waste Connections is well-positioned for core solid waste growth and margin expansion, with M&A pipeline, and productivity levers likely to drive positive estimate revisions going forward.