Oppenheimer raised the firm’s price target on Waste Connections (WCN) to $195 from $192 and keeps an Outperform rating on the shares after hosting the company’s management for investor meetings. Strategic efforts to boost labor retention and better leverage Waste Connections’ unique decentralized operating model should support favorable price-cost trends and continued strong execution into FY25, the analyst tells investors in a research note. Additionally, the firm believes election impacts should on balance positively impact the company, with favorable tax, regulatory, and immigration policy supporting higher profitability, along with a constructive M&A outlook.
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