Waste Management price target raised to $203 from $185 at BofA

BofA analyst Michael Feniger raised the firm’s price target on Waste Management to $203 from $185 and keeps a Neutral rating on the shares. Waste Management “ended 2023 on a high note with a strong Q4” after underwhelming Q2 and Q3 reports, the analyst tells investors. The firm raise estimates post a “strong Q4” and believes a higher multiple is warranted given the strong margin profile, though it cites valuation near the high end of the range for its Neutral rating.