Oppenheimer reiterates Waste Management stock rating after Q3 results
Oppenheimer reiterated an Outperform rating and $263 price target for Waste Management (NYSE:WM) after Q3 results. Shares fell as adjusted EBITDA missed estimates, though revenue beat. The company adjusted guidance, citing margin headwinds. Analysts see 13% upside potential. Waste Management trades at a P/E of 31.91, with some analysts suggesting overvaluation. Jefferies lowered its target to $267, citing margin pressures.
How this was made
The 30-second read
Why it matters
The earnings miss may trigger short-term selling, but the reaffirmed target indicates potential upside on longer-term fundamentals.
Market read
Primary earnings disclosure for a large-cap waste services company with actionable rating guidance.
What to watch
Renewable natural gas contributions and WMHS synergies could offset short-term margin headwinds.
Background
Waste Management (WM) released its Q3 2026 earnings, missing EBITDA expectations but beating revenue forecasts, prompting Oppenheimer to reaffirm its Outperform rating.
Ticker impact
Oppenheimer reiterated an Outperform rating with a $263 price target after Waste Management reported Q3 results showing adjusted EBITDA miss and mixed revenue/earnings numbers.
likely pressure as the market prices in the margin miss
The earnings miss is new information and the rating reiteration provides a clear catalyst for traders.
Market effects
Waste management sector may see broader scrutiny of margin pressures.
U.S. waste services stocks could experience modest volatility.
Limited to U.S. equities; no global macro impact.
Counterpoint
Despite the miss, the $263 target suggests upside if margin improvements materialize in FY2027.
Key entities
- AnalystOppenheimer
Reiterated Outperform rating and $263 price target for WM.
- CompanyWaste Management
Reported Q3 results with mixed performance.
