- Citigroup analyst Bryan Burgmeier initiated coverage on Waste Management Inc (NYSE:WM) with a Buy rating and a price target of $183.
- WM is the largest operator in the high-quality U.S. waste business, nearly double the size of the next largest competitor.
- The company is poised to benefit from whitespace growth in renewable natural gas investing $825 million through 2026 to add $400 million in run-rate EBITDA.
- While Burgmeier acknowledges 2022 stock outperformance, the RNG opportunity is still underappreciated, with 76 more candidate landfills vs. 17 announced.
- The analyst views the company’s pricing power and long-term opportunity in renewable natural gas as “underappreciated.”
- Through resilient FCF generation, WM can continue to drive op improvements (investing $800 million in recycling to generate $180 million EBITDA by 2026) and bolt-on M&A.
- Near-term, the Street is underappreciating collection & disposal yield, and the analyst opened a 90-day catalyst watch, expecting WM to beat when the company reports 4Q earnings on February 1.
- Price Action: WM shares traded higher by 2.62% at $157.91 on the last check Friday.
New Data And AI Solutions In Microsoft Cloud For Sustainability Help Move Organizations From Pledges To Progress
https://blogs.microsoft.com/blog/2024/02/13/new-data-and-ai-solutions-in-microsoft-cloud-for-sustainability-help-move-organizations-from-pledges-to-progress/As global sustainability progress becomes more pressing,
