On Oct 30, major Wall Street analysts update their ratings for $Waste Management (WM.US)$, with price targets ranging from $220 to $255.
Morgan Stanley analyst Toni Kaplan maintains with a hold rating, and adjusts the target price from $214 to $227.
Goldman Sachs analyst Jerry Revich maintains with a buy rating, and sets the target price at $253.
BofA Securities analyst Michael Feniger maintains with a hold rating, and adjusts the target price from $220 to $225.
Jefferies analyst Stephanie Moore maintains with a buy rating, and adjusts the target price from $256 to $255.
TD Cowen analyst James Schumm maintains with a buy rating, and maintains the target price at $235.
Furthermore, according to the comprehensive report, the opinions of $Waste Management (WM.US)$'s main analysts recently are as follows:
Following a solid Q3 report, the anticipated Q4 outlook seems quite attainable, and the prospects for 2025 are becoming significantly more compelling.
The firm is optimistic regarding the company's sustained growth in core unit profitability, the noticeable increase in earnings due to maturing green capital expenditure investments, and the improvement in free cash flow conversion.
WM's shares experienced an uptick following the company's outperformance in Q3 with both top and bottom lines surpassing consensus, alongside a raised free cash flow guidance for FY24 that exceeded analyst expectations by 2.4%. WM's strategic focus on technology-driven productivity investments is enhancing its position, taking advantage of beneficial industry pricing and cost trends, which is expected to contribute to significant core margin growth into FY25.
Following the company's third-quarter earnings surpassing expectations, it was noted that strong pricing and volume growth contributed to a new high in Adjusted EBITDA margin at 30.5%. The company is reaping benefits from a wider price-cost spread, the shedding of low-margin volumes, enhanced employee retention, and investments in technology. Additionally, with a positive outlook on the Solid Waste business, contributions from sustainability investments, and the integration of a recent acquisition, expectations are set for a significant increase in revenue, earnings, and free cash flow.
Here are the latest investment ratings and price targets for $Waste Management (WM.US)$ from 11 analysts:
Note:
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