In a note to clients, RBC Capital analyst Derek Spronck on Monday upgraded Waste Management to outperform from sector perform and raised his 12-month price target to $125 from $113, citing the company's "unique positioning within its sector."
Separately, analysts at Stifel Nicolaus reiterated their April 15 buy rating and raised their 12-month stock price target on Waste Management to $120 from $115. And KeyCorp analysts reiterated their overweight rating on Monday, also with a $120 price target, up from $112.
The upgrades followed the company's WM Investor Day presentation to shareholders held at the New York Stock Exchange last week.
Shares of the Houston-based company gained 1.38%, or $1.51, to $110.90 in early trading on the New York Stock Exchange on Monday.
Waste Management provides waste management services to residential, commercial, industrial, and municipal customers, including picking up and transporting waste and recyclable materials and operating landfill gas-to-energy facilities as well as transfer stations.