Waste Management (WM) PT Raised to $250 at Truist Securities

Truist Securities analyst Tobey Sommer raised the price target on Waste Management (NYSE: WM) to $250.00 (from $235.00) while maintaining a Buy rating.

The analyst comments "We increased our PT to $250 from $235 after WM reported upside 3Q results and raised the 2024 outlook driven by stronger performance in the core Solid Waste business. We raised our 2025E EPS to $7.82 (prior: $7.66) and could see modest '25 accretion from the Stericycle acquisition as an incremental tailwind upon close. Management reiterated the SRCL (Hold) acquisition remains on track to close in 4Q24. We were encouraged to hear a slightly more bullish view on potential cost synergies post-close than was communicated on the July call."

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