CIBC analyst Kevin Chiang has revised the price target for Waste Management (WM, Financial), reducing it slightly from $247 to $244 while maintaining a Neutral rating on the stock. This adjustment comes as the firm anticipates the Q1 earnings season, projecting no significant changes in guidance from Canadian rail companies or the waste sector.
Despite this minor downgrade, CIBC continues to express confidence in the waste management sector. The firm highlights that, amid increasing economic and political uncertainties, the fundamentals of the waste industry remain robust. This makes it their favored sector within the industrial and transportation coverage. Chiang's analysis suggests that Waste Management and similar companies are well-positioned to navigate current market challenges.
