Waste Connections (NYSE: WCN) Price Target Raised Amid Strong Q1 Earnings and Revenue Growth

• Goldman Sachs (NYSE: GS) raised Waste Connections' price target to $211.00, indicating a 24.93% potential upside.
• Waste Connections surpassed Q1 2026 earnings estimates with $1.23 per share and exceeded revenue expectations at $2.37 billion.
• The company demonstrated strong operational efficiency, achieving a 32.5% adjusted EBITDA margin despite external challenges.

Waste Connections (NYSE: WCN) is a leading integrated solid waste services company that provides essential waste collection, transfer, disposal, and recycling services across the U.S. and Canada. With a substantial market capitalization of approximately $43.17 billion, this environmental services provider stands as a major player in the competitive waste management industry, competing effectively with other large firms in the sector.

On April 23, 2026, Goldman Sachs (NYSE: GS) analyst Adam Bubes provided an updated stock analysis, raising the price target for Waste Connections to $211.00. At the time of this significant announcement, the stock was priced at $168.89 per share. This new price target suggests a potential upside of about 24.93% from the price when the new target was set, highlighting a positive investment outlook for the company.

This optimistic outlook for Waste Connections follows a period of strong financial performance. As highlighted by Zacks, the company surpassed its first-quarter 2026 earnings estimates. Waste Connections reported impressive quarterly earnings of $1.23 per share, which is notably higher than the consensus estimate of $1.19 per share and represents a significant increase from the $1.13 per share reported a year ago, showcasing robust earnings growth.

The company also exceeded revenue expectations, posting a strong $2.37 billion for the quarter. This figure is a clear improvement over the $2.23 billion from the same quarter in the previous year, demonstrating consistent revenue growth. This marks the fourth consecutive quarter that Waste Connections has beaten consensus estimates for both its earnings per share and revenue, underscoring its consistent financial strength.

According to a report from Business Wire, Waste Connections achieved an impressive adjusted EBITDA margin of 32.5% despite facing operational challenges from "outsized weather events." Adjusted EBITDA, or Earnings Before Interest, Taxes, Depreciation, and Amortization, is a crucial financial metric used to evaluate a company's core operating performance and profitability without factoring in financing and accounting decisions.