TD Cowen analyst James Schumm initiated coverage of Republic Services (RSG) with a Market Perform rating and $150 price target as the firm began coverage of the three largest waste services companies. Republic is "solid and well run," but has greater exposure than its two large peers to hazardous waste, which could drag down margins, the analyst tells investors. The RNG strategy is capital light, but "yields little in terms of future earnings" compared with peers Waste Management (WM) and Waste Connections (WCN), the firm contends.
Published first on TheFly
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