William Blair analyst Trevor Romeo has reiterated their bullish stance on WM stock, giving a Buy rating on April 23.
Trevor Romeo has given his Buy rating due to a combination of factors that highlight Waste Management’s strong performance and potential for future growth. The company reported mostly positive first-quarter results, surpassing expectations in adjusted EBITDA and adjusted EPS, despite a slight revenue miss primarily due to challenges in the WM Healthcare Solutions segment. The core collection and disposal business demonstrated resilience, outperforming estimates even in the face of adverse weather conditions, with strong core pricing and stable average yield.
Additionally, the company’s internal revenue growth exceeded expectations, and landfill volumes showed solid growth. Although free cash flow saw a decline, it was aligned with management’s projections, and the company remains on track to meet its 2025 guidance. These factors, coupled with the expectation of slight upside to full-year EBITDA and EPS, underpin Trevor Romeo’s optimistic outlook and Buy rating for Waste Management’s stock.
In another report released on April 23, HSBC also upgraded the stock to a Buy with a $265.00 price target.