12:30 AM EDT, 04/26/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target by $5 to $180, applying an EV/EBITDA multiple of 15x our 2025 EBITDA outlook, higher than peers but below WCN's three-year forward average of 17.5x. Our 2025 EPS forecast is adjusted $0.12 higher to $5.36 following the Q1 2024 release; 2024 EPS upped by $0.13 to $4.84. WCN posted Q1 operating EPS of $1.04 (up 16% Y/Y), beating consensus by $0.03. WCN achieved another quarter of 9% Y/Y sales growth, with a solid core price of ~8% more than offsetting a dip in revenues generated from fuel surcharges and volumes. We attribute the 4% Y/Y fall in volumes largely to shedding of lower quality contracts, which should help to solidify WCN's industry leading pricing. Adjusted EBITDA margin of 31.4% (up 160 bps Y/Y) is an encouraging start to 2024, in our view, which bodes well for profitability during Q2 and Q3. Recovering recyclable commodity prices and improvements in employee retention continue to aid margins. We keep our rating on WCN at Buy.