RBC Capital analyst Walter Spracklin raised the firm’s price target on Waste Management to $163 from $160 and keeps a Sector Perform rating on the shares. The company posted a better-than-expected Q3, mainly attributable to solid waste pricing above the more muted cost inflation and tailwinds from expense controls, the analyst tells investors in a research note. The volatility from recycled commodities prices improved during the quarter, but the execution risk of developing projects in-house also continued with further investment pushed forward, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on WM:
- Early notable gainers among liquid option names on October 25th
- Waste Management sees sustainability growth capital spending $750M in 2023
- Waste Management sees FY23 free cash flow $1.825B-$1.925B
- Waste Management reports Q3 adjusted EPS $1.63, consensus $1.61
- Waste Management options imply 2.7% move in share price post-earnings