Waste Connections

WCN · TORONTO

$186.60+$1.72 (+0.93%)TodayMarket closed · Oct 23, 7:30 PM ET

Prev close $184.88

WCN analyst rating

BuyConsensus of 17 analysts over the last 12 months. 88% rate it a buy.

Strong buy0
Buy15
Hold2
Underperform0
Sell0

12-month price target · 9 analysts

Average $202.11 (+8.3% upside)

Low: $189.05
Now: $186.60
High: $227.92

Upgrades and downgrades

The latest rating actions, newest first

WCN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
CIBC	Oct 23, 2026	Maintains	Outperformer	$184.00 → $207.00	45%
Citigroup	Oct 23, 2026	Maintains	Neutral	$175.00 → $192.00	73%
Morgan Stanley	Oct 23, 2026	Maintains	Overweight	$195.00 → $200.00	48%
Oppenheimer	Oct 23, 2026	Maintains	Outperform	$193.00 → $200.00	59%
RBC Capital	Oct 23, 2026	Maintains	Outperform	$218.00 → $221.00	53%
Wells Fargo	Oct 23, 2026	Maintains	Overweight	$187.00 → $211.00	55%
Barclays	Oct 23, 2026	Maintains	Equal-Weight	$187.00 → $189.00	33%
TD Cowen	Oct 23, 2026	Maintains	Buy	$210.00 → $215.00	67%
Scotiabank	Oct 23, 2026	Maintains	Sector Outperform	$193.00 → $201.00	72%
Citigroup	Oct 15, 2026	Maintains	Neutral	$182.00 → $175.00	73%

The case for and against

Updated Aug 2, 2026

Bull case

Waste Connections is poised for strong growth with the positive trends in commodity prices, a decrease in fuel costs, and an increase in rig count for E&P waste. Strong margins are expected in the second half of 2026, driven by decreased fuel costs and potential M&A activity. Risks include potential difficulties with ETLF spending and exposure to the volatile oil and gas industry, as well as sensitivity to recycled commodities and potential acquisition challenges.

Bear case

Waste Connections is one of the largest waste management companies in North America, with a focus on integrated waste collection services. However, a recent fallout at Chiquita Canyon has impacted the company's free cash flow and there are concerns about its capital spending on renewable energy projects. Additionally, increasing regulations and unions could lead to higher costs and lower profit margins in the future. Despite improving trends and healthy margins, there may be uncertainty around future spending.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.