From Earlier: Wedbush Comments on Waste Management CFO Appointment

Wedbush provided color on Waste Management WM in a research report published today following the company's resignation announcement of its current CFO and promotion of internal candidate James Fish, Jr. to the position. Wedbush has a $31 price target and Underperform rating on the company. In the report, Wedbush stated, "Given the appointment of Mr. Fish as EVP and CFO of the company, WM added some much needed stability to the finance organization and the stock could trade up modestly on this news today. However, we continue to view the risk/reward profile as being negative given slowing economic activities pressuring volume levels, no clear signs of margin stabilization plus headwinds from commodities and relatively competitive pricing environment in its urban markets." Shares of Waste Management were trading at $33.24 at the time of posting, down 0.63% from Tuesday's market close.