UPDATE: Jefferies Starts Stericycle (SRCL) at Buy

(Updated - April 16, 2013 7:16 AM EDT)

Jefferies initiates coverage on Stericycle (NASDAQ: SRCL) with a Buy. PT $127.00.

The analyst comments, "Stericycle's international expansion—still in its early stages—triples the size of its addressable med-waste/compliance opportunity. The first steps into foreign markets are accompanied by margin pressure, but significant benefits accrue to both revenue and margin over the LT as regions are backfilled and premium services are up-sold. Including acquisitions, we see earnings growing 18% annually for at least the next several years."

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 $109.20 yesterday.

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