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Fly News Breaks for October 18, 2019
Oct 18, 2019 | 07:00 EDT
BofA/Merrill Lynch analyst Michael Feniger downgraded Waste Management (WM) to Neutral from Buy following the stock's year-to-date outperformance vs. the S&P 500 and vs. peer Republic Services (RSG). While higher disposal pricing is a benefit for the entire sector and he likes the company's long-term prospects, he believes the stock's valuation is factoring in some level of the Advanced Disposal Services (ADSW) though there are still some near-term unknowns.
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