WM price target raised to $212 from $207 at BMO Capital

BMO Capital analyst Devin Dodge raised the firm’s price target on WM to $212 from $207 and keeps a Market Perform rating on the shares. The company reported another strong quarter with impressive cost performance in the core collection and disposal business, the analyst tells investors in a research note. While the pace of margin expansion is likely to moderate beginning in late 2024, the ramp-up of contributions from WM’s recycling and landfill RNG investments should keep adjusted EBITDA growth above its annual target of 7%, the firm added.