Waste Management (WM) Reiterated Hold at Jefferies After Earnings

Jefferies analyst Hamzah Mazari reiterated a Hold rating and $126.00 price target on Waste Management (NYSE: WM) after the company reported Q4 EPS of $1.13 versus consensus of $1.09 and Q3 EBITDA of $1,142mm versus consensus of $1,145mm. The beat came from better than expected declines in volume offset slightly by higher SG&A. Guidance for 2021 full year FCF was $2.25-2.35bn compared to consensus of $2.23bn and revenue growth of 10.75-11.25% (including ADSW) vs consensus of 11.35%.

The analyst stated "What to do with WM shares: Hold on to what you own if you think operating leverage can improve with greater push on landfill pricing, benefits of technology spend and a volume recovery post vaccine. Longer term, there could also be further upside around ADSW synergies."

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 $113.43 yesterday.

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