Analyst James Schumm of TD Cowen reiterated a Buy rating on Waste Connections, retaining the price target of $200.00.
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James Schumm has given his Buy rating due to a combination of factors tied to Waste Connections’ earnings trajectory and margin outlook. He views current modeling for 2026 as conservative, noting that margins are already trending higher while the market has grown overly pessimistic on the waste sector, leading to compressed valuations despite improving fundamentals.
He also highlights multiple catalysts that can lift profitability beyond traditional price‑cost levers, including AI‑driven pricing optimization, call‑center digitization, and dynamic truck routing, which together could add roughly $100 million of EBITDA and about 100 basis points of margin over time. In addition, solid special‑waste volume growth and indications that it may foreshadow a recovery in construction and demolition activity support a favorable demand backdrop, leading him to reaffirm his Buy rating and keep the $200 price target unchanged.
In another report released on April 24, ATB Cormark Capital Markets also maintained a Buy rating on the stock with a C$305.00 price target.