Waste Management Inc.'s stock surged 5.11% in pre-market trading on Thursday, outperforming the broader market. The rally came as the waste management company provided an upbeat 2025 revenue forecast and received positive analyst commentary.
The company projected 2025 revenue in the range of $25.55 billion to $25.8 billion, exceeding Wall Street estimates of $25.46 billion. Waste Management expects to benefit from higher prices for its garbage collection and disposal services, with core prices forecasted to rise between 5.8% and 6.2% in 2025.
Following the company's results and guidance, several analysts reiterated their bullish stance on the stock. Truist Financial and TD Cowen maintained their "Buy" ratings on Waste Management, citing the company's strong fundamentals and growth prospects. Additionally, an analysis of institutional ownership data revealed that 83% of the company's shares are held by institutions, indicating confidence among professional investors.