TD Cowen maintains Buy rating on Waste Connections, $215 price target

Waste Connections Inc (WCN) reported Q3 2026 revenue of $2.638B, up 7.3% YoY, with adjusted EBITDA margin of 34%. The company raised its full-year outlook, citing strong waste pricing and cost recovery. However, it faces challenges like diesel cost pressures, volume declines, and macroeconomic uncertainties. WCN maintains a strong balance sheet and plans for increased shareholder returns.

Waste Connections (WCN) reported Q3 revenue of $2.64B, beating estimates by 1.2%, and adjusted EPS of $1.58, beating by 3.9%. The company raised its full-year revenue guidance to $10.09B. Operating margin expanded to 20.5% from 17.9% YoY. Management highlighted margin expansion from pricing discipline, landfill volume recovery, and sustainability investments, including RNG facilities. The board approved a 10% dividend increase and $1B in share repurchases.

BMO Capital increased its price target for Waste Connections Inc. (WCN) to $206, citing growth prospects and recent stock performance. The company's Q3 earnings beat estimates, with revenue at $2.63B and EPS at $1.58. WCN raised its full-year outlook, and Scotiabank also upgraded its target to $201. The stock trades near its 52-week high at $185.91.

Scotiabank kept its Sector Outperform rating on Waste Connections (WCN) with a $201 price target, implying a 22.4% downside. The firm cited WCN's strong Q3 performance, with $896M EBITDA and 8% YoY growth, and positive growth outlook.

Scotiabank raised its price target on Waste Connections (WCN) to $201 from $193, citing strong Q3 results and raised guidance. The firm increased its EV/EBITDA multiple to 15.0x for 2028. WCN's stock surged over 10% in the past week, trading near its 52-week high. Q3 earnings beat expectations with $1.58 EPS and $2.63B revenue. The company also raised its full-year outlook.

Waste Connections reported Q3 earnings, noting growth in special-waste and recycling revenue, while residential construction remains pressured. The company raised its full-year outlook to $10.09B in revenue and $3.345B in adjusted EBITDA. It expects mid- to high-single-digit revenue growth for 2027, with adjusted EBITDA margin expansion. Waste Connections has $1B in liquidity and repurchased $1B of stock year-to-date, increasing its dividend by 10%.