Wunderlich Reports Positive Organic Growth For WCA Waste

In a report published by Wunderlich Securities, WCA Waste Corporation WCAA saw positive organic growth offset by lower margins.

Wunderlich Securities reported that it maintains its Hold rating and $5.00 price target on WCA Waste shares. “The company's 4Q results demonstrate that the industry fundamentals are stable to modestly better. Revenues tracked to a level that was slightly ahead of FY10 guidance of $225mm, but FY10 EBITDA of $53mm was slightly below WCAA’s target of $55mm. The catalyst for a ratings change would be the return to positive free cash flow (FCF) growth, in our view.”

WCA Waste closed yesterday at $5.43.