Republic Services (RSG) PT Raised to $208 at Baird

July 23, 2024 6:48 AM EDT
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Price: $215.22 +0.45%

Rating Summary:
    18 Buy, 15 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 16 | New: 9
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(Updated - July 23, 2024 6:51 AM EDT)

Baird analyst David Manthey raised the price target on Republic Services (NYSE: RSG) to $208.00 (from $203.00) while maintaining a Neutral rating.

The analyst commented: "Based on higher OCC pricing in 2Q24 (average pricing +9% q/q), we are raising our commodity basket pricing assumption. Diesel fuel ticked down $0.12 q/q vs. our flat assumption. EBITDA estimates rise slightly, and our new $208 price target is based on an unchanged 15x EV/2025E EBITDA."


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