Wunderlich Securities Has Buy On Waste Connections

Wunderlich Securities is out with a research report on Waste Connections (NYSE: WCN) and it has a Buy rating on shares.

In a note to clients, Wunderlich Securities writes, "Republic Services (RSG-$29.67, Buy) has a FY12 FCF yield of 8.6% and is trading at 6.8 times with very low risk to FCF outlook, even in a weak economy. Progressive Waste (BIN-$22.24, Buy) has a FY12 FCF yield of 11.1% despite one of the most stable business models in the group. The opportunity for “tuck-in” acquisition growth makes BIN attractive in a slow organic-growth environment. WCN remains a perennial outperformer continuing to deliver best-in-class EBITDA and FCF margins with attractive organic and acquisition growth. We believe WCN is best positioned if economic growth stalls or turns negative."