Waste Management (WM – Research Report), the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Tobey Sommer from Truist Financial maintained a Buy rating on the stock and has a $250.00 price target.
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Tobey Sommer has given his Buy rating due to a combination of factors including Waste Management’s ambitious financial targets for 2027, which exceed market expectations. The company has projected significant revenue growth, with a compound annual growth rate of 9.4% from 2024, and an increase in adjusted EBITDA, both of which are above current street estimates.
Furthermore, Waste Management has outlined specific growth drivers, such as revenue increases in its Collection and Disposal, Healthcare solutions, and Sustainability business segments. The company anticipates margin expansion and has factored in reasonable economic assumptions, such as CPI and GDP growth, into its projections. These elements collectively suggest a strong financial outlook, justifying the Buy rating.
In another report released on June 13, Citi also maintained a Buy rating on the stock with a $272.00 price target.