UPDATE: Wedbush Upgrades Republic Services on Cyclical Economic Recovery

In a report published on Wednesday, Wedbush analyst Al Kaschalk Upgraded

from Neutral to Outperform and raised the price target on the company from $33 to $40 on expectations of a cyclical economic recovery. In the report, Wedbush stated, "Our upgrade of Republic Services (RSG) is predicated on the realization of a cyclical economic recovery where the benefit of higher volumes and improving price within municipal and competitive markets drives EBITDA margin expansion and grows cash flow over the next 12-24 months." Republic Services closed on Wednesday at $34.06.