Casella Waste Price Target Lowered to $125 by Raymond James

Raymond James has lowered the price target on Casella Waste to $125 from $129 and maintains a Strong Buy rating. The analyst cites the company's unique landfill positioning, ongoing operational improvements, and M&A optionality in the Northeastern disposal market as key drivers of sustainable organic growth and margin opportunities. This is expected to drive EBITDA and free cash flow growth in excess of expectations over time.

Raymond James has lowered its price target on Casella Waste (CWST) to $125 from $129, while maintaining a Strong Buy rating on the shares. The analyst attributes this adjustment to the company's unique landfill positioning, ongoing operational improvements, and potential for mergers and acquisitions (M&A) in the Northeastern disposal market.

Casella Waste's strategic advantage in landfill operations and its continuous operational enhancements are expected to drive sustainable organic growth and margin opportunities. Furthermore, the analyst highlights the potential for M&A activity in the Northeastern disposal market, which could significantly boost EBITDA and free cash flow growth beyond expectations over the long term.

The company has been performing well, with its revenue exceeding expectations, primarily driven by robust organic growth in resource solutions and improving landfill volumes. Despite some challenges with margins and adjusted EBITDA guidance remaining unchanged, the overall revenue growth and recent acquisitions support a positive outlook.

Raymond James also notes that Casella Waste's shares are currently trading at a discount compared to their 5-year averages, making them an attractive investment option. The company's ability to outperform in internal revenue growth, despite a slight decline in volumes, further strengthens the Buy rating.

References:
[1] https://www.tipranks.com/news/the-fly/casella-waste-price-target-lowered-to-125-from-129-at-raymond-james-thefly
[2] https://www.marketbeat.com/instant-alerts/filing-blueshift-asset-management-llc-purchases-shares-of-2602-raymond-james-financial-inc-nyserjf-2025-08-03/