Analyst Jon Windham from UBS maintained a Hold rating on Waste Management and keeping the price target at $240.00.
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Jon Windham has given his Hold rating due to a combination of factors related to Waste Management’s recent financial performance and future projections. The company’s third-quarter results for 2025 were generally in line with expectations, with revenue guidance for the year narrowed to the lower end of the previous range. This adjustment reflects a decline in recycled commodity pricing and lower revenue expectations from WM Healthcare Solutions.
Additionally, while Waste Management maintained its adjusted EBITDA guidance, the free cash flow guidance for 2025 was also held steady, with expectations for 2026 showing potential improvement. Despite these stable projections, the company’s growth appears to be driven by core price increases rather than volume growth, which was minimal. These factors, combined with the company’s valuation based on a 15x EV/EBITDA multiple, contribute to the Hold rating, as they suggest limited upside potential in the near term.
In another report released on October 16, Morgan Stanley also maintained a Hold rating on the stock with a $232.00 price target.