UPDATE: Goldman Sachs Starts Republic Services (RSG) at Neutral

November 1, 2016 7:03 AM EDT
Get Alerts RSG Hot Sheet
Price: $57.36 +0.79%

Rating Summary:
    6 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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(Updated - November 1, 2016 9:50 AM EDT)

Goldman Sachs initiated coverage on Republic Services (NYSE: RSG) with a Neutral rating and a price target of $52, implying 0% upside.

Analyst Brian Maguire said, "We like RSG’s self-help initiatives that could generate meaningful SG&A savings, and potential volume leverage to a rebound in single-family housing starts. However, RSG’s valuation is currently elevated and could be susceptible to a shift in fund flows to more cyclical sectors unless economic data continues to disappoint. Furthermore, formula-based pricing linked to CPI will likely continue to be a margin headwind in the residential collection channel until a larger percentage of contracts turn over."

For an analyst ratings summary and ratings history on Republic Services click here. For more ratings news on Republic Services click here.

Shares of Republic Services closed at $52.63 yesterday.

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