UPDATE: KeyBanc Capital Markets Initiates Waste Management at Hold on Waste Recovery Visibility

KeyBanc Capital Markets initiated coverage on Waste Management

with a Hold rating. KeyBanc Capital Markets commented, "While utilizing the largest footprint in collection, disposal and recycling likely offers WM a strategic advantage in garnering national accounts, we believe WM's exposure tends to be in larger markets in which it may have lower share in some markets vs. peers. Therefore, even though WM is the largest and often a pricing leader, market placement and potential share could foster a modest headwind, and may explain the 70 bps shortfall in annual price realized relative to the peer group average (2004-2011)." Waste Management closed at $32.08 on Tuesday.