Stifel Reiterates Hold Rating on Stericycle (SRCL)

Stifel analyst Michael Hoffman reiterated a Hold rating and $62.00 price target on Stericycle (NASDAQ: SRCL).

The analyst comments "We maintain our Hold rating and $62 target price on Stericycle, Inc. (SRCL, Hold, $58.44). On June 3, 2024 Waste Management (WM, Buy, $207.89) announced an agreement to acquire outstanding shares of SRCL for $62 per share. We do not foresee WM running into any HSR issues and believe this deal can be successfully completed. The deal is expected to close by 4Q24, but WM ultimately has until June 3, 2026, if only regulatory approvals (HSR) are remaining. WM/SRCL Deal: Pulling Apart the Deal Metrics: SRCL TP to $62 and a Hold Removing from the Stifel Select List. Using SRCL equity discount rate of 10%, $62 deal price infers 30-Year FCF CAGR of 8.0% based on consensus NTM FCF estimate. Using WM's equity discount rate of 8.0%, the implied CAGR is lower at 5.8% vs. WM FCF CAGR of 8.7% based on the current WM stock price."

For an analyst ratings summary and ratings history on Stericycle click here. For more ratings news on Stericycle click here.

Shares of Stericycle closed at $58.44 yesterday.

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