Oppenheimer Raises Waste Connections (WCN) Price Target to $200

Oppenheimer maintained its Outperform rating on Waste Connections, Inc. (NYSE: WCN) on October 23, 2026, while raising its price target from $193.00 to $200.00. The adjustment arrives alongside a flurry of target updates from peer financial institutions on the same day.

WCN Waste Connections, Inc.

$187.11 ▲ +8.16% year to date

1M 3M YTD

Daily close · Oct 23, 2026

Oppenheimer's Call on Waste Connections

On October 23, 2026, Oppenheimer kept an Outperform rating on the waste management firm while nudging its target higher to $200.00 from $193.00. The firm's forward-looking view joins several other Wall Street updates published on the same date.

Other Institutional Activity in Waste Connections

Royal Bank of Canada grew its holdings by 978,069 shares, ending with 13,188,665 shares worth about $2,458,103,447.0. Bank of Montreal /CAN/ lifted its stake by 529,653 shares to finish with 8,665,651 shares valued at roughly $1,615,104,075.0. 1832 Asset Management L.P. added 342,885 shares, bringing its total to 7,456,684 shares worth approximately $1,389,776,800.0. Mackenzie Financial Corporation cut its position by 280,380 shares, leaving it with 4,699,732 shares valued at about $875,936,073.0. Capital International Investors trimmed 645,697 shares, concluding the period with 4,582,617 shares worth roughly $854,108,178.0.

Waste Connections, Inc. Stock Up 9.9%

Shares recently changed hands at $184.88 as of October 23, 2026, down about 0.8% from their event-day close of $186.38. The stock trades well above its 50-day moving average of $161.29 and sits close to its 52-week high of $186.93. The current price is about 8.7% below the consensus mean target of $202.48.

Recent Earnings

Waste Connections generated trailing twelve-month revenue of $9.94 billion alongside basic earnings of $4.46 per share. The company posts a net profit margin of 11.4% and a return on equity of 14.2%. Its next quarterly earnings release is scheduled for February 10, 2027.

Dividend

Waste Connections pays an annual dividend rate of $1.40 per share, yielding 0.83%. The payout ratio sits at 33.0% of earnings.

Insider Buying and Selling at Waste Connections, Inc.

Officer Robert Nielsen III sold 300 shares on July 29, 2026, at an average price of $173.10 for a total value of $51,930.00. Officer Susan Rhea Netherton disposed of 1,750 shares on August 13, 2026, at $166.00 per share, totaling $290,500.00. Officer Philip Rivard parted with 2,500 shares on August 18, 2026, at $166.57 each, amounting to $416,425.00. Robert Nielsen III also sold 700 shares on August 19, 2026, at $170.00 per share for a total of $119,000.00.

Analysts Set New Price Targets

Morgan Stanley maintained an Overweight rating on October 23, 2026, moving its price target to $200.00 from $195.00. RBC Capital maintained an Outperform rating on the same date, taking its target to $221.00 from $218.00. Wells Fargo maintained an Overweight rating on October 23, 2026, lifting its target from $187.00 to $211.00. Barclays maintained an Equal-Weight rating on October 23, 2026, pushing its target to $189.00 from $187.00. Overall, the stock carries a consensus Strong Buy rating and a mean price target of $202.48 across 25 analyst opinions.

About Waste Connections

Waste Connections, Inc. operates across the United States and Canada, providing non-hazardous waste collection, transfer, and disposal services. The company handles residential, commercial, municipal, industrial, and exploration and production customers while running landfill disposal and recycling operations for materials like cardboard, paper, plastics, and metals. Monitoring these operational segments helps investors gauge broader industrial economic health.

Bottom Line

Oppenheimer's revised target reflects continued confidence as the company approaches its next earnings report in February 2027. Investors will watch whether the share price can close the gap toward the new $200.00 target.