UPDATE: J.P. Morgan Lowers Price Target on Republic Servives to $36.50

According to J.P. Morgan, Republic Services

price target is lowered to $36.50. J.P. Morgan said that it maintains its Overweight rating on RSG, as Q3 results highlighted its strong operating discipline and cash-generative business model. “We expect '11 FCF to approach the high end of guidance ($875-900mm), though bonus depreciation will likely be a swing factor in the outlook for 2012 and beyond.” Republic Services closed yesterday at $28.58.