Truist analyst Tobey Sommer raised the firm’s price target on Waste Management to $220 from $215 and keeps a Buy rating on the shares. The company’s Q4 earnings upside and strong guidance highlighted margin tailwinds from an increasingly favorable price to cost spread, the analyst tells investors in a research note. The firm adds that sustainability projects should inflect to a net tailwind in late 2024.
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Read More on WM:
- Waste Management (NYSE:WM) Rises on Impressive Q4 Performance
- Waste Management sees FY24 revenue up 6%-7%
- Waste Management reports Q4 EPS $1.74, consensus $1.53
- Waste Management options imply 4.2% move in share price post-earnings
- Options Volatility and Implied Earnings Moves Today, February 12, 2024
