Stericycle downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded Stericycle (SRCL) to Sector Perform from Outperform with a price target of $62, down from $69, after Waste Management (WM) announced an agreement to acquire Stericycle for $62 per share in cash. There are some large private equity firms active in the space, so the firm still sees “a (small) outside chance of a competing bid,” the analyst tells investors.