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Fly News Breaks for April 4, 2019
RSG, WM
Apr 4, 2019 | 05:46 EDT
UBS analyst Jon Windham downgraded Waste Management (WM) to Neutral from Buy while raising his price target for the shares to $106 from $103. The analyst sees a more balanced risk/reward profile following the stock's 17% year-to-date appreciation compared to the 11% return for peer Republic Services (RSG). Waste Management is now trading at a 30 basis point free cash flow yield discount to Republic Services compared to 50 basis point average free cash yield discount in January and 70 basis point average three-year discount, Windham tells investors in a research note.
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