Wells Fargo initiated coverage of Waste Management with an Equal Weight rating and $175 price target. The firm likes the Waste Management story, but is not ready to underwrite the company’s fiscal 2026 sustainability targets. The analyst is cautious around Waste Management’s “ambitious goals.” While the company’s benefits of scale are well understood, the flip side is that tuck-in acquisitions do not move the needle, the analyst tells investors in a research note.
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