Waste Connections: Rating Downgrade As Near-Term Upside Is Priced In

• 100 - 100 The Property 11 119 CT of Cattle 4 p A 1 t Hol Makiko Tanigawa Investment action I recommended a buy rating for Waste Connections (TSX:WCN:CA) when I wrote about it in May, as I expected the stock to sustain its 33x forward P/E multiple, supported by a positive margin expansion outlook and high single-digit topline growth visibility (with upside if WCN continues its acquisition streak). Based on my current outlook and analysis, I recommend a hold rating. My key update to my thesis is that WCN's ...