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Imperial Capital Reiterates Outperform, Raises Price Target On Waste Management Following Another Healthy Operational Quarter

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In a report published Wednesday, Imperial Capital analyst Scott Levine reiterated an Outperform rating on Waste Management, Inc. (NYSE: WM), and raised the price target from $53.00 to $56.00.

In the report, Imperial Capital noted, "We are maintaining our Outperform rating on WM shares, and are raising our one-year price target to $56 from $53. Our price target is about 4% above the recent share price. We believe investors have begun to recognize recent improvement in WM's financial performance, reflecting increased operating and capital discipline, in our view. That said, with the stock trading at a premium to the environmental peer group following a period of strong performance, we view near-term upside as modest, and await more visibility regarding the company's cash deployment plans before revisiting our thesis."

Waste Management closed on Tuesday at $53.94.

Latest Ratings for WM

DateFirmActionFromTo
Aug 2019Initiates Coverage OnNeutral
Jul 2019DowngradesOutperformPerform
Jul 2019MaintainsBuy

View More Analyst Ratings for WM
View the Latest Analyst Ratings

Posted-In: imperial capital Scott LevineAnalyst Color Price Target Analyst Ratings

 

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