Procore stock price target raised to $90 from Goldman Sachs on stabilizing growth
Investing.com - Baird upgraded Waste Management (NYSE:WM) from Neutral to Outperform on Tuesday, while raising its price target to $242.00 from $238.00. This target represents a 23% upside from the current price of $196.77, with the stock trading near its 52-week low of $194.11.
The research firm cited the stock’s significant underperformance year-to-date (-1.42%), describing the current risk/reward profile as "compelling" despite the market’s pro-cyclical stance leaving the shares out of favor. InvestingPro data shows the RSI suggests the stock is in oversold territory, supporting Baird’s assessment.
Baird expressed confidence that Waste Management’s 2026 outlook remains healthy despite some headwinds, noting that the company’s current valuation "looks well-grounded and leaves solid upside for a large-cap name." With a P/E ratio of 30.98 and a dividend yield of 1.68%, the company has maintained dividend payments for 28 consecutive years, demonstrating long-term financial stability.
The firm specifically addressed concerns about Waste Management’s Healthcare Solutions business, predicting these issues will be resolved by mid-2026 as the division benefits from its recent integration into the broader WM operating model.
Baird concluded that the recent weakness in Waste Management shares is "overdone" and recommended investors should be buyers at current levels.
In other recent news, Waste Management reported its third-quarter 2025 earnings, which fell short of analyst expectations. The company posted an earnings per share (EPS) of $1.98, missing the forecasted $2.03, and recorded revenue of $6.44 billion, below the anticipated $6.5 billion. Despite these results, Waste Management maintained its full-year outlook and provided a preliminary free cash flow forecast for 2026 of approximately $3.8 billion, which was noted by Oppenheimer to be well above the Street estimate. Truist Securities reiterated its Buy rating for Waste Management, citing a strong free cash flow outlook for 2026, expecting a 33% year-over-year growth. Meanwhile, Scotiabank adjusted its price target for the company to $254, reflecting transitory headwinds related to commodities and Stericycle. TD Cowen also lowered its price target to $265, expressing concerns about Stericycle’s ongoing issues but maintaining a Buy rating. These developments indicate mixed reactions from analysts regarding Waste Management’s future prospects.
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