WM price target lowered to $231 from $235 at CIBC

CIBC lowered the firm’s price target on WM (WM) to $231 from $235 and keeps a Neutral rating on the shares. WM Healthcare Solutions’ Q3 results slightly missed expectations, contributing to a ~4% decline in WM’s share price, the analyst tells investors in a research note. Management characterized the revenue headwinds as temporary and reaffirmed the multi-year outlook presented at Investor Day. Structural tailwinds remain strong, but consistent revenue growth will be needed to demonstrate that the Stericycle acquisition can drive compounding earnings once cost synergies are fully realized, CIBC says.