Stericycle price target lowered to $58 from $62 at RBC Capital

RBC Capital analyst Sean Dodge lowered the firm’s price target on Stericycle to $58 from $62 and keeps an Outperform rating on the shares. The company’s Q3 results saw a miss on revenue and EBITDA, but some of the drivers of the miss were transient factors such as lower commodity-indexed surcharges, the analyst tells investors in a research note. With the big ERP risks now behind it, the combination of Stericycle’s premium growth and discounted valuation represents a compelling opportunity, the firm added.