Waste Management price target raised to $189 from $163 at RBC Capital

RBC Capital analyst Walter Spracklin raised the firm’s price target on Waste Management to $189 from $163 and keeps a Sector Perform rating on the shares. The company reported better-than-expected Q4, mainly attributable to solid waste pricing, cost controls, and tailwinds from recycled commodities, the analyst tells investors in a research note. While 2024 guidance was in line, it is “potentially conservative” given solid pricing and cost optimization programs with more room to run, the firm added.