Wunderlich Securities Maintains Buy Rating On WCN

Wunderlich Securities is maintaining its Buy rating on the shares of Waste Connections WCN and price target of $35.

“Day one of a two-day, non-deal roadshow with CFO Worthing Jackman in California. Industry fundamentals remain stable with pricing positive and improving, albeit slowly, and volumes stable with no significant change. 1Q11 remains on track as discussed in the 4Q10 earnings call,” Wunderlich Securities writes.

“January started strong only for February to be hit by multiple storms. In 1Q10 just the opposite occurred. Headcount was down in 2010 and should be flat to down in 2011, with overtime up in 2010 versus 2009 and trending at flat to a modest increase in 2011.”

Waste Connections closed Thursday at $28.38.