Truist cuts Waste Management PT on Stericycle acquisition

Waste Management

11/07/2024 12:53

** Truist cuts PT for Waste Management  WM.N  to $235 from
$240, keeps rating "buy"
    ** The new price target represents a 11.27% upside to the
stock's last close
    ** Says acquisition of Stericycle  SRCL.O  looks like a
"strategy pivot"
    ** "Skepticism around the SRCL acquisition may weigh on the
stock over the next 12 months" - Truist
    ** WM bought SRCL for $7.2 billion in June
    ** 11 of 23 brokerages rate WM "buy" or higher, 12 "hold";
their median PT is $223
    ** WM up 17.91% YTD

 (Reporting by Aishwarya Jain in Bengaluru)
 ((Aishwarya.Jain@thomsonreuters.com;))