Waste Management

WM · NYSE

$231.73+$5.32 (+2.35%)TodayMarket closed · Oct 20, 7:55 PM ET

Prev close $226.41

WM analyst rating

BuyConsensus of 18 analysts over the last 12 months. 67% rate it a buy.

Strong buy0
Buy12
Hold6
Underperform0
Sell0

12-month price target · 31 analysts

Average $264.44 (+14.1% upside)

Low: $224.67
Now: $231.73
High: $290.85

Upgrades and downgrades

The latest rating actions, newest first

WM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Oct 13, 2026	Maintains	Equal-Weight	$230.00 → $220.00	95%
JP Morgan	Oct 8, 2026	Maintains	Overweight	$270.00 → $235.00	53%
CIBC	Oct 8, 2026	Maintains	Neutral	$250.00 → $225.00	45%
Wolfe Research	Sep 15, 2026	Initiates	Peer Perform	—	59%
UBS	Aug 4, 2026	Maintains	Buy	$265.00 → $270.00	45%
RBC Capital	Jul 30, 2026	Maintains	Sector Perform	$240.00 → $244.00	55%
Stifel	Jul 30, 2026	Maintains	Buy	$252.00 → $261.00	56%
Barclays	Jul 30, 2026	Maintains	Overweight	$270.00 → $277.00	29%
Scotiabank	Jul 16, 2026	Maintains	Sector Perform	$250.00 → $260.00	62%
Citigroup	Jul 10, 2026	Maintains	Buy	$263.00 → $269.00	76%

The case for and against

Updated Jul 21, 2026

Bull case

Waste Management is a leading provider of traditional solid waste services in North America with a strong market share and a sustainable competitive advantage in the industry. Their investment in sustainability-related growth initiatives and strategic acquisitions, combined with their strong asset positioning and focus on efficient operations, has resulted in strong cash flow generation and a leading ROIC profile. With a diverse portfolio of services and a positive outlook for the economy, we believe that Waste Management is well-positioned for continued long-term success in the industry.

Bear case

Waste Management is facing challenges in the short term due to lower-than-expected revenue and higher-than-expected SG&A expenses as a percentage of revenue. While it is investing in recycling and RNG projects, it may take some time for these investments to generate significant returns. Additionally, the company's FY26 guidance may be viewed as too conservative, providing a favorable setup for the future, but this could also indicate potential concerns for future margin expansion. Overall, Waste Management may face some headwinds in the near future and its sustainability investments may not see immediate results, leading to a negative outlook on the stock.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.