Waste firm values have plenty room to rise: report
NEW YORK (Reuters) - Current valuations of waste managers such as Waste Connections Inc (WCN.N), Waste Management Inc (WM.N) and Republic Services Inc (RSG.N) give the company's shares a lot of room to rise, according to a Barron's story.
In its November 23 edition, Barron's said Waste Connections shares could rise to $37.50 in a year, citing Raymond James analyst William Fisher's price target for the stock, which closed at $31.79 on the New York Stock Exchange Friday.
According to Barron's, investor Todd Lowenstein of Highmark Value Momentum Fund sees Waste Management shares rising as high as $40 from their Friday NYSE close at $32.30.
Republic Service's Chairman Jim O'Connor has said that analysts' discounted cash-flow analysis pegs his company's value in the mid $30s range, according to the story. This compares to Republic Services NYSE close of $27.40 on Friday.
The story also noted that Warren Buffett has bought 1 percent of Republic Services, based on Berkshire Hathaway Inc (BRKa.N) filings.
It said that Bill Gates investment vehicle had doubled its shares in Waste Management, giving it a 15 percent stake.
(Reporting by Sinead Carew; Editing Bernard Orr)
