Scotiabank downgraded WM (WM) to Sector Perform from Outperform with a price target of $250, down from $254, “solely” on its relative performance. The the stock outperformed the Big 4 group over the past year and closed the valuation gap, while the company is also lapping tough organic growth comps this year due to last year’s wildfires, the analyst tells investors. However, the firm remains attracted to WM’s long-term growth outlook, the analyst added.
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