Market Overview

UPDATE: Wedbush Raises PT to $30 on Waste Management on Long-Term Restructuring Plan

Share:
Related WM
Earnings Scheduled For July 27, 2016
Stocks Hitting 52-Week Highs
No Need To Sell - Cramer's Mad Money (7/27/16) (Seeking Alpha)

Wedbush reiterated its Underperform rating on Waste Management (NYSE: WM) but raised its price target from $29 to $30.

Wedbush commented, "We are maintaining our negative stance on shares of Waste Management (WM). Despite well-known headwinds from lower prices expected from the sale of recycled fibers, the benefits from recent headcount reduction and organizational realignment are expected to be partially offset by inflationary costs, suggesting 80-90 bp improvement in 2013
 versus 2012. … In the interim, the headwinds from recycled fiber prices, mix of revenues (less franchise and more open market) and capital return projects are more favorable."

Waste Management closed at $32.08 on Friday.

Latest Ratings for WM

DateFirmActionFromTo
May 2016OppenheimerInitiates Coverage onOutperform
Apr 2016Bank of AmericaInitiates Coverage onNeutral
Mar 2016Sterne Agee CRTInitiates Coverage onNeutral

View More Analyst Ratings for WM
View the Latest Analyst Ratings

Posted-In: WedbushAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (WM)

View Comments and Join the Discussion!