Goldman Sachs Upgrades Waste Management (WM) to Buy; Leverage to Housing, Valuation

December 5, 2012 6:58 AM EST
Get Alerts WM Hot Sheet
Price: $69.48 --0%

Rating Summary:
    8 Buy, 9 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 50
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Goldman Sachs upgraded Waste Management (NYSE: WM) from Neutral to Buy with a price target of $42.00 (from $33.00).

The firm cites: (1) we believe the recovery in residential fixed investment (RFI) will drive municipal solid waste (MSW) volume and pricing higher through 2015, (2) consensus forecasts seem too low and do not reflect the inflection that we forecast for MSW volume and pricing, (3) valuation appears compelling on our 2014 estimates.

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 $32.63 yesterday.

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