TD Cowen initiates coverage on Casella Waste Systems with 'buy' rating, Street-high PT

Casella Waste Systems

09/04/2025 17:44

** Brokerage TD Cowen starts coverage on solid-waste management company Casella Waste Systems CWST.O with "buy" rating and a Street-high PT of $130

** PT represents 20.2% upside to the stock's last close

** Brokerage says Casella is attractive due to its M&A growth and free cash flow durability under any economic conditions

** Tariffs are expected to have limited impact on the business - brokerage

** CWST is well positioned to navigate cost inflation and increase prices if needed, maintaining profit margins - TD Cowen

** Brokerage sees upside to company's rebound in landfill volumes, leading to increased revenues, and states that its 2025 projection appears conservative

** Six out of 10 brokerages rate the stock "buy" or higher, three rate "hold", one rates "sell", with a median PT of $115, according to data compiled by LSEG

** Including the session's moves, CWST stock down ~2% YTD

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))