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Waste Management Upgraded at Goldman Sachs (WM)

By Dividend.com,  December 05, 2012, 08:41:58 AM EDT

Goldman Sachs reported Wednesday, that they have upgraded waste management services company, Waste Management, Inc.( WM ) to a "Buy".

The firm reported that they have upgraded WM from "Neutral" to "Buy," and have increased the company's price target from $33 to $42. This price target suggests a 21% increase over the stock's current price of $33.10.

Analysts expect the company to see higher volume and have the ability to price higher through 2015. This is a result of residential fixed investment recovering.

Waste Management share were up 47 cents, or 1.44% during premarket trading Wednesday. The stock is mostly flat YTD.

The Bottom Line
Shares of Waste Management ( WM ) have a 4.35% dividend yield, based on last night's closing stock price of $32.63. The stock has technical support in the $30-$31 price area. If the shares can firm up, we see overhead resistance around the $33-$34 price levels.

Waste Management, Inc.( WM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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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