UPDATE: Wedbush Raises Republic Services' PT

According to a research report published earlier today, Wedbush has increased Republic Services' RSG PT from $31 to $32. In the report, Wedbush commented, “Reiterate OUTPERFORM ahead of expected solid operating results. We are maintaining our positive stance on shares of Republic Services (RSG) ahead of the company's Q1:12 results. And, while warming weather could benefit the quarter, we believe RSG is seeing further signs of stabilized-to-improving volumes that should benefit 2H:12 and 2013. While commodity prices have recovered somewhat, guidance remains prudent and expectations remain in check, helped by elevated diesel prices. With the benefit of recent contract wins coming on-line in the summer of 2012, strategic investments driving higher volumes of commodities recovered and sold, and the potential for a 4-5% annual rate of growth in the dividend over the next 1-2 years, we recommend buying the shares.” Republic Services closed yesterday at $30.45.