UPDATE: Stifel Starts Advanced Disposal Services (ADSW) at Buy
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(Updated - October 31, 2016 8:38 AM EDT)
Stifel initiated coverage on Advanced Disposal Services (NYSE: ADSW) with a Buy rating and a price target of $23.
Analyst Michael E. Hoffman said, "With the completion of the October 6 IPO, ADSW has entered the next phase of its deleveraging plan. It has spent the past four years streamlining the portfolio, beginning the process of densifying routes by continually rerouting and the addition of tuck-in deals as well as lowering the cost structure from productivity gains, real price, and volume growth. We believe ADSW can self fund repayment of debt to lower leverage to 3x by 2020."
Shares of Advanced Disposal Services closed at $20.10 yesterday.
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