What Happened?
Shares of waste management company Casella (NASDAQ: CWST) jumped 4.3% in the afternoon session after Stifel resumed coverage of the company with a Buy rating and set a price target of $113.
This price target suggested a notable potential increase from the stock's recent trading levels. In its analysis, Stifel pointed to Casella's ownership of landfills in capacity-constrained areas of the Northeast, which was expected to provide the company with additional pricing power over time. The firm's positive view was part of a broader optimistic outlook on the solid waste sector, where other major companies also received Buy ratings. The new coverage also highlighted the company's strong performance, as its revenue had increased 20.3% over the previous twelve months.
After the initial pop the shares cooled down to $95.26, up 4.7% from previous close.
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What Is The Market Telling Us
Casella Waste Systems’s shares are not very volatile and have only had 3 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
Casella Waste Systems is down 8.6% since the beginning of the year, and at $95.26 per share, it is trading 20.9% below its 52-week high of $120.37 from May 2025. Investors who bought $1,000 worth of Casella Waste Systems’s shares 5 years ago would now be looking at an investment worth $1,706.
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