Stifel Initiates Coverage on Waste Management, Inc. (WM) with Buy Rating and $252 PT

With significant hedge fund interest and trending on Reddit, Waste Management, Inc. (NYSE:WM) secures a spot on our list of the 10 Best Non-Tech Stocks to Buy According to Reddit.

Stifel initiated coverage on Waste Management, Inc. (NYSE:WM) on September 29 with a Buy rating and a $252 price target. The investment firm expects strong free cash flow growth in 2026 and 2027, propelled by recycling and renewable gas projects, lower capital intensity, and ongoing cost synergies from the Stericycle acquisition.

Furthermore, with Waste Management, Inc. (NYSE:WM)’s business strategy moving toward steady shareholder returns through share repurchases and increases in per-share metrics, Stifel predicts free cash flow is likely to compound at an upper 5% annual rate beyond 2027.

Waste Management, Inc. (NYSE:WM) offers a wide range of environmental services in several company categories, such as WM Renewable Energy, WM Healthcare Solutions, Recycling Processing and Sales, as well as Collection and Disposal. It is one of the Best Non-Tech Stocks.

While we acknowledge the potential of WM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.