Reported 3 days ago
JPMorgan analyst Tami Zakaria has upgraded Waste Management Inc. (NYSE: WM) from Neutral to Overweight and increased the price target from $225 to $277. This decision comes after Zakaria's initial coverage of the waste services sector and considers the expected benefits from Waste Management's $7.2 billion acquisition of Stericycle, which specializes in medical waste and information destruction. Despite skepticism surrounding the acquisition and renewable projects, JPMorgan anticipates that WM's valuation will improve over time as it capitalizes on revenue synergies and sustainability initiatives.
Source: YAHOO