CIBC raised the firm’s price target on WM (WM) to $250 from $244 and keeps a Neutral rating on the shares. The firm said its main takeaway from the company’s three-year outlook presented at its Investor Day is that it continues to expect outsized EBITDA and free cash flow growth, with this growth exceeding 2019-2021 targets from WM’s 2019 Investor Day. It appears the company is not suffering from the law of large numbers, which addresses a concern that the growth rate will slow relative to peers over the medium term, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WM:
- WM price target raised to $245 from $241 at BMO Capital
- WM price target raised to $255 from $251 at Oppenheimer
- Waste Management: Balancing Growth Potential with Near-Term Challenges
- Waste Management: Balancing Promising Growth with Market Uncertainties
- Waste Management: Buy Rating Affirmed Amidst Strong Growth Prospects and Attractive Valuation