Waste Management (WM) PT Lowered to $251 at Raymond James

Raymond James analyst Patrick Tyler Brown lowered the price target on Waste Management (NYSE: WM) to $251.00 (from $254.00) while maintaining a Outperform rating.

The analyst comments "We maintain our Outperform rating as we believe Waste Management’s (WM) capital deployment campaign towards sustainable projects adds an interesting wrinkle and substantive incremental EBITDA and FCF opportunities to the story in out years. We also surmise that given additional synergy capture and potential re-ignition of organic growth, Stericycle could prove more valuecreative than initially appreciated. We remain enamored with the solid waste industry backdrop and believe a solid pricing, volume, and cost outlook could drive margins and FCF higher in time."

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