UPDATE: Goldman Sachs Starts Waste Management (WM) at Buy
Goldman Sachs analyst Jerry Revich initiates coverage on Waste Management (NYSE: WM) with a Buy rating and a price target of $145.00.
The analyst comments "We are positive on WM’s industry-leading unit economics and productivity improvement over the past five years, highlighted by the highest EBITDA per employee in our coverage. We are also positive on WM’s local competitive positioning, as the company holds 47% market share within a 50-mile radius of its landfills and transfer stations on a weighted average basis - the highest in our coverage - supporting the company’s +10% pricing premium on a spot basis relative to its footprint. For capital deployment, we expect a rising focus on stock buybacks following the company’s recent Advanced Disposal Services acquisition. We see 4% upside to FactSet consensus 2021E EPS estimates."
Shares of Waste Management closed at $131.60 yesterday.
You May Also Be Interested In
- UPDATE: Oppenheimer Starts Golub Capital BDC (GBDC) at Outperform
- UPDATE: JMP Securities Starts eFFECTOR Therapeutics, Inc. (EFTR) at Market Outperform
- Tata Consultancy Services Ltd. (TCS:IN) PT Raised to INR4,050 at CLSA
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesGoldman Sachs, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!