Goldman Sachs analyst Adam Bubes raised the firm’s price target on Waste Connections (WCN) to $211 from $206 and keeps a Buy rating on the shares. The company’s better-than-expected Q1 results were driven by a combination of stronger than expected E&P revenues and sequential improvement in recycling prices, the analyst tells investors in a research note. Goldman Sachs that it expects the company’s fuel surcharge to fully recover fuel costs by Q3 while core price is tracking toward the high end of pricing guidance and recycled commodity pricing continues to improve sequentially.
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