KeyBanc Starts Waste Management (WM) at Hold, Low Expectations But Limited Visibility

KeyBanc initiates coverage on Waste Management (NYSE: WM) with a Hold. The firm notes while expectations are low, they see limited visibility on a waste recovery.

With 0 buy ratings, 8 holds and 4 sells among current Street ratings, in conjunction with 5.1% short interest and limited downside reaction to recent earnings that have been softer than expected, "we believe investor expectations in WM are low," the analyst said.

In addition, near-term and longer-term efficiency projects could potentially drive an incremental cost savings of $295 million to $510 million, or $0.41-$0.71 per share, over the next one to three years.

Also, the attractive 4.3% yield is attractive to investors and should provide downside support.

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 $32.08 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Diana Shipping withdraws bid to acquire Genco Shipping
• Silexion Therapeutics (SLXN) Tops Q2 EPS by 793c