Benzinga | Oct 29, 2021 03:59PM EDT

Analysts Bump Up Waste Connections' Price Target On Strong Q3 Results

* RBC Capital analyst Walter Spracklin raised Waste Connections Inc's (NYSE:WCN) price target to $147 (an upside of 8%) from $139 and maintained an Outperform rating.

* Spracklin noted the company reported "strong" Q3 results and raised guidance, highlighting its ability to execute amidst an uncertain and changing industry and macro backdrop.

* The analyst adds that the quarter's performance should serve as a differentiator for Waste Connections, further supporting the forward multiple premium it has enjoyed over peers historically.

* Deutsche Bank analyst Kyle White raised the price target to $145 from $135 and maintained a Buy rating post the Q3 results.

* Given its pricing power, the analyst views the challenging labor and inflationary environment as a competitive advantage to Waste Connections. He believes it could bring more private company sellers to the market for further consolidation.

* Raymond James analyst Patrick Tyler Brown raised the price target to $152 (an upside of 11.5%) from $144 and maintained a Strong Buy rating.

* Price Action: WCN shares traded higher by 2.53% at $136.1 on the last check Friday.