KeyBanc Upgrades Waste Management (WM) to Overweight
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
KeyBanc upgraded Waste Management (NYSE: WM) from Sector Weight to Overweight with a price target of $74. Analyst Joe Box sees further price, volume and margin gains.
"Following recent management meetings, we are upgrading WM to Overweight and introducing a $74 price target due to: 1) positive volume inflection with particular emphasis on its Commercial line; 2) our expectation for continued margin gains from cost and price tailwinds; and 3) our view that solid waste should remain thematically popular due to defensive characteristics and valuations could become increasingly favorable vs. the broader market," said Box. "Though not a new story, we believe positive fundamentals and firm-specific catalysts could drive earnings/FCF growth to make WM a core defensive holding."
Shares of Waste Management closed at $65.51 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Upgrades Martin Midstream Partners (MMLP) to Buy
- Cowen Downgrades Nike (NKE) to Neutral; Sees Lower Guidance
- Mizuho Securities Raises Price Target on Noble Midstream Partners LP (NBLX) to $37
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Upgrades
Related EntitiesKeyBanc, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!