Casella Waste Systems (NASDAQ:CWST) Better Company After Asset Sales

Casella Waste Systems (NASDAQ:CWST) will be a leaner, meaner company after its asset sale, according to Canaccord, which sees several catalyst emerging as a result.

Canaccord noted, "Casella’s proposed asset sales accomplish several key objectives, including: 1) significantly lowering the debt burden and improving the credit profile; 2) reducing risk exposure to commodities; and 3) refocusing the company on its core assets in the Northeast. We view the terms of the deal positively and update our estimates accordingly."

Canaccord Genuity maintains a 'Buy' rating on Casella Waste Systems (CWST), which closed at $8.04 Tuesday, surging $0.50, or 6.63 percent. Canaccord raised their price target on them from $10 to $11.