Waste Connections price target raised to $206 from $205 at Oppenheimer

Oppenheimer raised the firm’s price target on Waste Connections (WCN) to $206 from $205 and keeps an Outperform rating on the shares. The firm notes shares traded up Wednesday after the company beat Q3 top-/bottom-line consensus and guided Q4/preliminary FY26 outlooks in line with the Street. Runway for outsized solid waste margin expansion persists into FY26 as Waste Connections reaps benefits from higher employee retention and technology/infrastructure investments that could structurally improve price retention and productivity, Oppenheimer adds. Meanwhile, commodities and relative valuation are near trough levels, M&A remains a driver for positive revisions, and Q3’s large buyback provides a clear signal in the firm’s view.