Waste Management initiated with a Buy at Citi

Citi analyst Bryan Burgmeier initiated coverage of Waste Management with a Buy rating and $183 price target. The analyst views the company’s pricing power and long-term opportunity in renewable natural gas as "underappreciated." Waste Management is nearly double the size of its nearest competitor in the high-quality U.S. waste business, Burgmeier tells investors in a research note. The analyst also opened a "positive catalyst watch" on the shares.