Republic Services Downgraded to “Neutral” at Wedbush; Pricing Concerns Persist (RSG)


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Waste management giant Republic Services, Inc. ( RSG ) on Monday caught a big downgrade from analysts at Wedbush Securities.

The firm said it cut its rating on RSG from "Outperform" to "Neutral" with a $29 price target, suggesting an 8.5% upside to the stock's Friday closing price of $26.72. Wedbush noted the company will probably have to cut pricing to remain competitive in the marketplace if it wants to maintain volume growth.

Republic Services shares fell 33 cents, or -1.2%, in premarket trading Monday.

The Bottom Line
Shares of Republic Services ( RSG ) have a 3.29% dividend yield, based on Friday's closing stock price of $26.72. The stock has technical support in the $24-$25 price area. If the shares can firm up, we see overhead resistance around the $29-$30 price levels.

Republic Services, Inc. ( RSG ) is not recommended at this time, holding a DARS™ Rating of 3.3 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 Nasdaq, Inc.

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This article appears in: Investing , Stocks

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