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Goldman Sachs initiated Stericycle
SRCL with a Buy rating and a $115.00 price target.
Goldman Sachs analyst Isaac Ro commented, "Our thesis is based on: (1) underappreciated durability of the SRCL model, (2) favorable mix shift and (3) catalysts via M&A and margin upside. How we are different: Our proprietary analysis of market fragmentation in key states covering roughly 30% of the US population suggests ample fragmentation remains. Additionally, we compare SRCL to other unique roll-up stories across a variety of industries using CROCI. This leads us to model EPS above consensus and apply a premium valuation multiple.
Stericycle closed at $98.65 on Tuesday.
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