WM price target lowered to $238 from $255 at Jefferies

Jefferies lowered the firm’s price target on WM (WM) to $238 from $255 and keeps a Buy rating on the shares. The firm continues to like the waste group in general given its view that margins should come in at the high-end or above historical levels, driven by “healthy” pricing, a rebound in volumes and company-specific margin drivers. In the group, Jefferies favors companies with idiosyncratic stories, benefiting from defensive business models, improving organic growth, and steady margin expansion, the analyst tells investors.