KeyBanc Upgrades Waste Management (WM) to Overweight
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) in Advanced Talks to Acquire B/E Aerospace (BEAV) - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial 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
- Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- Jefferies Cuts Price Target on Packaging Corp. (PKG) to $93; Reiterates Buy
- Mizuho Securities Remains Sidelined on Advanced Micro Devices (AMD) Following 3Q Beat
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!