UPDATE: Goldman Sachs Upgrades Waste Management to Buy, Reiterates $42 PT
In a report published Wednesday, Goldman Sachs Group upgraded its rating on Waste Management (NYSE: WM) from Neutral to Buy, and reiterated its $42.00 price target.
Goldman Sachs noted, “We...upgrade WM to Buy from Neutral given the company's leverage our outlook for a recovery in MSW volume and pricing, beatable consensus expectations, and compelling valuations, especially on our 2014 estimates. We...29% upside to our 12-month $42 price target for WM. We note that we have a preference for RSG relative to WM given its better margin profile and better capital allocation track record.”
Waste Management closed on Tuesday at $32.57.
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