Wunderlich Reiterates Buy Rating On US Ecology

According to Wunderlich Securities, US Ecology

Buy rating is reiterated. Wunderlich Securities said that ECOL CFO Jeff Feeler traveled to Philadelphia for investor meetings. “We forecast FY11 EBITDA at $46mm which, at current valuations, translates into an EV/EBITDA of 8.0 times vs. its closest competitor/comparable Clean Harbors (CLH-$102.35, Buy) at 9.3 times. Our price target implies a FY11 EBITDA multiple of 9.0 times on FY11 EBITDA of $46mm. There is a realistic prospect of an upside surprise to EBITDA in FY11 and solid incremental growth in FY12.” US Ecology closed yesterday at $17.41.