WM price target raised to $240 from $230 at Argus

Argus raised the firm’s price target on WM (WM) to $240 from $230 and keeps a Buy rating on the shares after its Q3 earnings beat. The company has been investing in new technology to capture more lucrative business from recycled materials, its balance sheet is clean, and the firm is positive on the management’s focus on shareholder returns, the analyst tells investors in a research note. WM has also signaled confidence in its outlook with a recent 7% dividend hike, Argus added.