Waste Management, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst David Manthey from Robert W. Baird upgraded the rating on the stock to a Buy and gave it a $242.00 price target.
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David Manthey has given his Buy rating due to a combination of factors that highlight Waste Management’s strong potential for growth and stability. Despite some challenges, such as low recycled commodity prices and non-repeating high-margin events, the company’s 2026 outlook remains robust. Manthey notes that Waste Management’s core solid waste and recycling business is performing well, with key metrics like volume growth and price/cost spread showing positive trends. Additionally, management’s expectation of significant free cash flow growth further supports the Buy rating.
Moreover, Waste Management’s efforts to integrate Healthcare Solutions into its existing operations are expected to stabilize and improve performance. The company has already made progress in enhancing its cost structure, which should lead to better operating results. Manthey also points out that the current valuation of Waste Management’s shares is attractive, given the company’s resilient operating results and strong margins. These factors collectively contribute to Manthey’s confidence in the stock’s potential upside, justifying the Buy rating.
In another report released on October 29, Barclays also maintained a Buy rating on the stock with a $266.00 price target.