WM price target raised to $222 from $214 at Baird

Baird analyst David Manthey raised the firm’s price target on WM to $222 from $214 and keeps a Neutral rating on the shares. The firm said its 1Q24 results demonstrated strong performance on the operating cost/SG&A lines, driving solid year-over-year EBITDA growth. Baird said its near-term view/rating continues to be balanced out by limited upside versus their price target, the stock’s significant re-rating, and cyclical dynamics.