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Investing.com - Barclays upgraded Casella Waste Systems (NASDAQ:CWST) from Underweight to Equalweight on Monday, while raising its price target to $95.00 from $88.00.
The upgrade follows Casella’s third-quarter 2025 results, which included a guidance raise for 2025 and a better-than-expected outlook for 2026. Barclays cited easing margin headwinds and reduced execution concerns around the company’s Mid-Atlantic integration efforts as key factors behind the rating change.
The research firm noted that Casella’s commentary around its billing system completion and fleet optimization timeline aligned with expectations established during the second-quarter results. System integration is now 50% complete, with significant truck deliveries occurring in the third quarter of 2025.
Barclays sees less risk to Casella returning to year-over-year margin expansion in 2026, though it maintains some caution pending further progress on operational improvements. This cautious stance is reflected in the Equalweight rating rather than an outright Buy recommendation.
The waste management company’s shares currently trade at 15 times next-twelve-months EV/EBITDA, which Barclays notes is in line with municipal solid waste peers, while acknowledging that integration work remains ongoing.
In other recent news, Casella Waste Systems reported its Q3 2025 earnings, which exceeded analysts’ expectations. The company announced an earnings per share (EPS) of $0.42, surpassing the projected $0.32, representing a 31.25% surprise. Additionally, Casella Waste Systems’ revenue reached $485.4 million, slightly above the anticipated $476.49 million. These results highlight a positive performance for the company in the latest quarter. The earnings beat and revenue figures were well received by investors, as reflected in premarket trading activity. There were no recent mergers or acquisitions reported for Casella Waste Systems. Analyst upgrades or downgrades were not mentioned in the latest updates.
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