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UPDATE: Credit Suisse Initiates Coverage on Stericycle on Positive Solid Waste Business

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In a report published Monday, Credit Suisse analyst Hamzah Mazari initiated coverage on Stericycle, Inc. (NASDAQ: SRCL) at Outperform, establishing a $140.00 price target.

According to the report, the $140.00 price target is based on the analyst's normalized EBIDTA estimate of ~$920mm at ~16.5x multiple discounted back.

“Barrier to entry in the medical waste business is not just having a disposal network advantage but also high route density similar to the municipal solid waste business,” the report noted. “We believe having captive US market share in a stable business (over 95% of revenues are under long term contracts with automatic renewal clauses) with significant global and domestic secular drivers insulates Stericycle from economic cycles.”

Some highlights from the report included: -Mix and Cross Selling is Under-appreciated. -International Markets Remain on the Upside.

SRCL closed Friday at 115.42.

Latest Ratings for SRCL

DateFirmActionFromTo
Feb 2020BairdMaintainsNeutral
Nov 2019RBC CapitalInitiates Coverage OnOutperform
Nov 2019JefferiesInitiates Coverage OnHold

View More Analyst Ratings for SRCL
View the Latest Analyst Ratings

 

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Posted-In: Credit Suisse Hamzah MazariAnalyst Color Initiation Analyst Ratings

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