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Morgan Stanley Downgrades Waste Management to “Underweight”; Says Stock is Overvalued, Given Weak Fundamentals (WM)

By Dividend.com,  July 11, 2012, 08:41:59 AM EDT

Trash collection specialist Waste Management, Inc. ( WM ) on Wednesday caught a big downgrade from analysts at Morgan Stanley.

The firm said it cut its rating on WM from "Equal-weight" to "Underweight" with a $30 price target, suggesting a 9% downside to the stock's Tuesday closing price of $33.07. Morgan Stanley noted that despite poor fundamentals, WM's stock performance has been strong.

Waste Management shares were mostly flat in premarket trading Wednesday.

The Bottom Line
We have been recommending shares of Waste Management ( WM ) since Feb.22, 2012, when the stock was trading at $35.10. The company has a 4.29% dividend yield, based on last night's closing stock price of $33.07.

Waste Management, Inc. ( WM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: WM



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