Republic Services price target raised to $175 from $155 at Truist

Truist analyst Tobey Sommer raised the firm’s price target on Republic Services to $175 from $155 and keeps a Hold rating on the shares as part of a broader research note on the Environmental Services. The firm is positive on the group’s predictable demand streams amid economic uncertainty, wider price-cost spreads that are poised to drive upside margin expansion, and a relatively attractive valuation, with Solid Waste names trading at an average 5% discount to three-year average multiples, the analyst tells investors in a research note.