Wedbush Reaffirms an 'Underperform' on Waste Management (WM); CFO Change, But Still A Long Way To Go
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Price: $42.39 +0.95%
Rating Summary:
3 Buy, 5 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
3 Buy, 5 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade WM Now!
Wedbush reaffirms an 'Underperform' on Waste Management (NYSE: WM) price target of $31.00.
Analyst, Al Kaschalk, said, "We are not surprised that Mr. Preston is leaving the company, although his tenure at the company was relatively short following the acquisition by WM of Oakleaf Holdings (Oakleaf) in July of 2011. With CEO David Steiner still several years away from retirement, we surmise Mr. Preston did not want to wait around, but in turn elected to pursue external opportunities at the CEO level."
Kaschalk is still negative on shares, citing a slowdown in economic activities putting pressure on volumes, lack of margin stabilization plus commodity headwinds vs. competition also putting the company behind the eight ball. He suggests avoiding shares, at least in the near-term.
For an analyst ratings summary and ratings history on Waste Management click here. For more ratings news on Waste Management click here.
Shares of Waste Management closed at $33.45 yesterday, with a 52 week range of $27.75-$38.06.
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Analyst, Al Kaschalk, said, "We are not surprised that Mr. Preston is leaving the company, although his tenure at the company was relatively short following the acquisition by WM of Oakleaf Holdings (Oakleaf) in July of 2011. With CEO David Steiner still several years away from retirement, we surmise Mr. Preston did not want to wait around, but in turn elected to pursue external opportunities at the CEO level."
Kaschalk is still negative on shares, citing a slowdown in economic activities putting pressure on volumes, lack of margin stabilization plus commodity headwinds vs. competition also putting the company behind the eight ball. He suggests avoiding shares, at least in the near-term.
For an analyst ratings summary and ratings history on Waste Management click here. For more ratings news on Waste Management click here.
Shares of Waste Management closed at $33.45 yesterday, with a 52 week range of $27.75-$38.06.
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