Raymond James lowered the firm’s price target on WM (WM) to $255 from $258 and keeps an Outperform rating on the shares. WM’s multiyear capital deployment campaign towards sustainable projects adds an “interesting” wrinkle and substantive incremental EBITDA and free cash flow opportunities to the story in out-years, the analyst tells investors in a research note. The firm believes that a solid pricing, volume, and cost control outlook could drive margins and free cash flow higher in time.
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