Republic Services upgraded to Conviction Buy from Buy at Goldman Goldman added Republic Services to its Conviction Buy List and raised its rating on the Environmental Services sector to Attractive from Neutral. The analyst views Republic Service's valuation as attractive and expects municipal solid waste volumes and pricing to move higher due to a recovery in housing.Price target raised to $37 from $30.
Republic Services sees FY15 EPS $2.02-$2.06, consensus $2.16 This represents mid- to high-single digit growth compared to Republic's estimate of 2014 performance. FY15 adjusted free cash flow is expected to be in a range of $725M-$750M. This represents mid-single digit to low-double digit growth compared to Republic's estimate of 2014 performance. Adjusted free cash flow consists of cash provided by operating activities, less property and equipment received, plus proceeds from the sales of property and equipment and withdrawal payments related to Central States Pension Fund, net of tax.