JP Morgan Maintains Neutral Rating on Republic Services (RSG), Lifts PT

On May 23, JP Morgan raised the price target on Republic Services, Inc. (NYSE:RSG) from $229 to $275 and maintained a Neutral rating on the stock.

The firm updated the price target after it resumed its coverage of the waste services sector. Republic Services, Inc. (NYSE:RSG) has soared more than 26% on a year-to-date basis and is currently trading close to its 52-week high of $253.76. The noted that the company’s risk-reward situation appears balanced.

Earlier, on April 24, Republic Services, Inc. (NYSE:RSG) reported its Q1 2024 results. The company posted better-than-expected EPS of $1.58 surpassing market expectations by $0.05. Revenue for the quarter grew 3.81% year-over-year, however, missed the consensus by $36.48 million. Management noted the topline was affected by sluggish cyclical volumes and challenging winter weather, however, the company grew its EBITDA by high single-digit despite the volatility.

While we acknowledge the potential of RSG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RSG and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 11 Most Promising New Technology Stocks According to Analysts and 12 Best Growth Stocks to Buy and Hold for the Long Term.

Disclosure: None