Summary
- WM shares have been hit hard in recent weeks over recycling price worries, but its long-term fundamentals far outweigh this headwind.
- WM has significant pricing power, a unique collection of assets, and just raised guidance.
- After the recycling woes of 2018, the company took actions to earn more from collections and reduce reliance on recycling prices, which should aid the company this year.
- With strong free cash flow and secular growth, I can see shares return to $170-175 and would buy shares here.
For further details see:
Waste Management: Buy This Wonderful Company At A Fair Price