WM price target raised to $230 from $224 at Oppenheimer

Oppenheimer raised the firm’s price target on WM (WM) to $230 from $224 and keeps an Outperform rating on the shares. The firm notes shares traded up after WM beat Q3 top-/bottom-line consensus and raised FY24 free cash flow guidance midpoint 2.4% above the Street. WM’s execution on technology-led productivity investments is compounding favorable industry-level price cost dynamics, and remains a lever for outsized core margin expansion into FY25, Oppenheimer adds.