Oppenheimer analyst Noah Kaye lowered the firm’s price target on Waste Connections (WCN) to $205 from $206 and keeps an Outperform rating on the shares. The firm notes the company indicated expectations at its December conference for 150-200bps price-cost spread in FY26, based on 3-4% cost inflation, driving 20-40bps or better underlying margin expansion in FY26. Volume declines could improve on moderation of purposeful shedding and price-volume tradeoffs, with AI-driven pricing tools in early stages of implementation in competitive commercial markets, Oppenheimer adds.
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