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Republic Services' 2023 Already Shaping Up, Says This Analyst

  • Raymond James analyst Patrick Tyler Brown raised the price target for Republic Services, Inc. (NYSE: RSG) to $155 (an upside of 9%) from $143 while maintaining the Outperform rating on the shares.

  • The analyst mentions that following years of steady growth, RSG has refocused its efforts across the board that has seemingly sparked a new level of emphasis on growth & profitability.

  • Through both organic & M&A channels, RSG is posting some of the strongest growth in a decade, he added.

  • Brown is enamored with RSG’s focus on challenging assumptions in efforts to drive margins & FCF generation/conversion higher, which could provide upside to estimates.

  • The analyst noted that combined with a strong acquisition pipeline and the roll-over benefit of ECOL, management believes double-digit top-line growth is within sight.

  • Brown believes a story may be brewing at the margin line in 2023, given the strong expectation for pricing.

  • Price Action: RSG shares are trading higher by 0.44% at $142.52 on the last check Monday.

Latest Ratings for RSG

Date

Firm

Action

From

To

Mar 2022

Morgan Stanley

Maintains

Overweight

Feb 2022

Deutsche Bank

Maintains

Hold

Feb 2022

Morgan Stanley

Maintains

Overweight

View More Analyst Ratings for RSG

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