Stifel analyst Shlomo Rosenbaum resumed coverage of Waste Connections (WCN) with a Buy rating and $221 price target as the firm resumed coverage of the solid waste space. Pointing out that about 40% of the business is under exclusive or franchise contracts and 60% mostly in secondary and rural markets, the firm likes the company’s “differentiated strategy” and sees “a long runway” for the company to continue its M&A strategy, the analyst tells investors.
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