J.P. Morgan Overweight On Republic Services

J.P.Morgan Chase & Co. is out with a research report on Republic Services Inc

and it has an Overweight rating and a $35.50 price target on shares. In a note to clients, J.P.Morgan Chase & Co. writes, "RSG reiterated comments made on its recent Q2 call, indicating that while volumes remain suppressed, they haven't meaningfully deteriorated recently, and could turn positive by YE11, consistent with our forecast. Upward CPI-linked resets in the municipal business could drive pricing slightly higher in 2H11 (perhaps 50-100bps vs. 1H), with additional upside expected in 2012, assuming no meaningful downtick in inflation." Shares of RSG gained 58 cents on Friday to close at $26.91.