Because they believe the economy is about to roll over and into the shitter, they double upgraded WM today.
Via CNBC:
Garbage stocks may be the key to success in a sluggish economy, and Waste Management “should be a core holding in every portfolio,” according to Goldman Sachs.
The firm on Monday raised its rating on the trash giant two notches to outperform from underperform, a rare “double upgrade.”
“Given the age of the current business cycle and expectations for slowing economic growth, we believe now is the right time to own waste stocks,” analyst Brian Maguire wrote to clients. “The waste sector not only compounds earnings growth at a higher rate than the overall market, but it does so with much less volatility and draw-downs in its earnings.”
The $40 billion garbage and recycling company’s stock has outperformed the broader market this year and proved to be a reliable bet amid growing volatility. Shares are up 7.8 percent since January and have remained above their 200-day moving average — often considered a barometer of whether securities are in a healthy long-term trend — for the vast majority of the year.
The waste industry, courtesy of Exodus.
Fly you’re not blogging enough about GDX/NUGT.
Gold does look to have made a nice bottom and bounce
Bought WCN instead 3 weeks ago. I think their is better potential with this one.
could the fucking assholes not have said the same thing at $83??? or did they buy then and now looking to unload.
FUCK GOLDMAN SACHS;
btw; $83 was the recent lows fwiw.
scam fuckers they are./
Vix to the moon
This market is trash – chopping people up
Fed is done after December.
It’s what I wrote last week: if the FED wants to stop raising rates, that is not a good thing for the economy and stock market’s 2019 outlooks.
Investors have been trained like sheep to think that the FED not raising is good news, but forget about the WHY.
If you are looking to buy something, and the seller decides to give you a steep discount ***and you don’t know why***, walk away.