Waste Management, Inc. (NYSE:WM) ranks among the stocks in Bill Gates’ portfolio that analysts are watching. On November 4, Baird raised its price target from $238 to $242 and upgraded Waste Management from Neutral to Outperform.
Pixabay/Public Domain
Despite several challenges, Baird was optimistic about Waste Management’s 2026 prospects, pointing out that the company’s present valuation “looks well-grounded and leaves solid upside for a large-cap name.”
The rating follows the company’s third-quarter adjusted earnings on October 27 which came in below analyst forecasts. The waste collection and disposal company revealed revenue of $6.44 billion, which was below the consensus forecast of $6.5 billion, and adjusted earnings per share of $1.98, which fell short of the analyst forecasts of $2.03.
The company maintained its free cash flow projection between $2.8 billion to $2.9 billion and its full-year adjusted operating EBITDA forecast at $7.475 billion and $7.625 billion.
However, Waste Management, Inc. reduced its total company revenue forecast to around $25.275 billion, the low end of its previous guidance range, citing continuing decreases in recycled commodity pricing and somewhat lower revenue projections from WM Healthcare Solutions.
Waste Management, Inc. is a waste collection and disposal industry leader with a dominant market share and unequaled landfill ownership.
READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.
This article is originally published at Insider Monkey.
