Waste Management (WMI: NYSE) By Banc of America Securities ($36.00, Aug. 20, 2007)
WE ARE INITIATING COVERAGE OF Waste Management with a Buy rating and $41 price target.
Waste Management generated revenue of $13 billion in 2006, of which 56% was derived from collection of municipal solid waste, 20% from landfill operations, 7% from recycling and 6% from waste-to-energy (WTE). The company is the largest municipal solid-waste collection and disposal company in North America based on its network of 283 landfills and 413 collection companies in 49 states throughout the U.S.
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