Here’s Why Stifel Reiterated a Buy Rating on Waste Management Inc (WM) Stock

Waste Management Inc (NYSE:WM) is one of the best long-term stocks to invest in according to Bill & Melinda Gates Foundation Trust.

Here’s Why Stifel Reiterated a Buy Rating on Waste Management Inc (WM) Stock

On June 12, Stifel reiterated a Buy rating on Waste Management Inc (NYSE:WM) stock with a price target of $252. The brokerage made this call after hosting Waste Management’s COO Tara Hemmer at the 14th annual Stifel/Waste360 Investor Summit at the inaugural Waste Leadership Summit on June 10.

Following the meeting, Stifel noted that Waste Management has been using AI to improve margins. The firm also learned that the company sees additional opportunities to deploy AI tools in all parts of its operations.

Stifel also noted that Waste Management is seeing a better price-to-cost spread now than it did before the inflationary period caused by Covid. Moreover, the firm found out that the company is open to expanding deeper into the environmental services if that would create value.

Regarding Waste Management’s Healthcare Solutions division (WMHS), Stifel commented that this business seems to be at a turning point. Moreover, the firm believes that Waste Management’s rail-served landfills could double from the current six in the next 5 to 10 years.

Waste Management Inc (NYSE:WM) is a leading waste management company operating in the US and Canada. It handles everything from garbage collection and dumpster rental to recycling and disposal. The company also generates renewable energy from waste.

While we acknowledge the risk and potential of WM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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