Deutsche Bank upgraded Republic Services, Inc. (NYSE:RSG) to buy from hold, while maintaining their $147 price target on the company’s shares.
The brokerage mentioned the following reasons for the upgrade: (1) the company is an inflation hedge in today’s environment, (2) it is a safe haven in market downturns and (3) it provides compelling earnings growth especially on a risk-adjusted basis.
The analysts view the stock as attractive for investors during market uncertainty given its defensive attributes and evidence of relative outperformance during downturns.