Waste firm values have plenty room to rise: report
Current valuations of waste managers such as Waste Connections Inc
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
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)
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