Goldman Sachs Downgrades Waste Management to “Neutral” (WM)
Goldman Sachs reported on Thursday that it has downgraded waste management services company, Waste Management, Inc. (WM).
The firm has lowered its rating of WM from a “Buy” to “Neutral,” and has given the company a $42 price target. This price target suggests a 4% increase from the stock’s current price of $40.14.
An analyst from the firm noted, “while we continue to expect a MSW volume recovery through 2015 driven by improving RFI spend and US housing, we are downgrading Waste Management (WM) to Neutral from Buy given we believe shares are fairly valued.”
Waste Management shares were mostly flat during premarket trading Thursday. The stock is up 19% YTD.
The Bottom Line
Shares of Waste Management, Inc. (WM) have a 3.64% yield, based on Wednesday’s closing price of $40.14.
Waste Management, Inc. (WM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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