UPDATE: Stifel Nicolaus Initiates Buy, $103 PT on Stericycle

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Stifel Nicolaus initiates a Buy rating and $103 price target on Stericycle
SRCL
based on a relatively non-cyclical growth story for the company on collection of hazardous and regulated medical waste. Stifel Nicolaus notes, "Our $103 target price assumes that the company will achieve the average EV/EBITDA and forward P/E valuations that it has achieved over the past five years as the company continues to execute since we do not expect the company's prospects to diminish over the near term. ...Stericycle is the largest player in an otherwise very fragmented niche market where route density is key." SRCL closed at $84.30 a share on Monday.
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Posted In: Analyst ColorPrice TargetInitiationAnalyst RatingsStifel Nicolaus
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