Casella Waste initiated with an Underweight at Barclays

Barclays analyst William Grippin initiated coverage of Casella Waste (CWST) with an Underweight rating and $88 price target The firm started 10 stocks in the North America environmental services sector with a positive industry view, citing “resilient” demand and long-term consolidation opportunities. Waste and water infrastructure offer relatively stable demand across cycles, the analyst tells investors in a research note. Barclays sees select buying opportunities on the recent sector pullback. On Casella Waste, the firm believes the Street may be underestimating the “growing pains” tied to the company’s geographic expansion efforts.