Deutsche Bank Initiates Coverage On Waste Management; Is There Cash In Trash?
Deutsche Bank analyst Amit Mehrotra wrote, "There's cash in trash... but not enough growth" in his note initiating coverage of Waste Management (NYSE: WM).
Mehrotra has rated the company as a Hold and announced a price target of $47.
Despite a "solid management team, strong market position and impressive scale," Mehrotra views the current levels of Waste Management's shares as a fair representation of the company's value.
Mehrotra said he could become more bullish if:
- Waste Management saw a recovery in its recycling business.
- There was "more stringent" cost control.
- More aggressive share repurchases.
- Industry consolidation through a "tie-up" with another major player.
Shares of Waste Management are up slightly following the initiation and were trading at $44.45 at last check.
Latest Ratings for WM
|May 2016||Oppenheimer||Initiates Coverage on||Outperform|
|Apr 2016||Bank of America||Initiates Coverage on||Neutral|
|Mar 2016||Sterne Agee CRT||Initiates Coverage on||Neutral|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.