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Waste Management, Inc. (NYSE:WM) is included among the 15 Best Long Term Stocks to Buy According to Reddit.
On November 13, Wells Fargo began covering Waste Management, Inc. (NYSE:WM) with an Overweight rating and a price target of $238, according to a report by The Fly. The firm expects the company to deliver strong performance over the next two years, projecting roughly 20% growth in unit profitability and about a 40% improvement in free cash conversion. These gains are expected to come from favorable pricing trends and the completion of several major capital projects.
In the third quarter, Waste Management, Inc. (NYSE:WM) reported $6.4 billion in revenue, up 15% from the same period last year as demand for its services continued to rise. However, operating income slipped 12% to $989 million because of noncash expenses related to depreciation and similar items.
Waste Management, Inc. (NYSE:WM) is also pushing forward with its landfill gas-to-energy strategy. This process captures methane released from landfills and converts it into renewable natural gas, which is comparable to fossil-based natural gas but is carbon-neutral because it uses methane that would otherwise escape into the atmosphere.
Acquisitions are another growth engine. Last year, Waste Management, Inc. (NYSE:WM) spent $7.2 billion to acquire Stericycle, a major medical waste services provider. The deal gives the company a strong foothold in the healthcare waste sector and opens the door for efficiencies and cost synergies as the two businesses integrate.
Waste Management, Inc. (NYSE:WM)’s core business involves handling waste from the point it is created to its final disposal, including collection, transportation, recycling, landfilling, and treatment.
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.
READ NEXT: 12 Best European Dividend Stocks to Buy Now and 13 Best Canadian Dividend Stocks to Buy and Hold for the Long Term.
Disclosure: None.
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