Waste Management (WM -3.4%) is downgraded to Underweight from Neutral at J.P. Morgan, which says...

|About: Waste Management, Inc. (WM)|By:, SA News Editor

Waste Management (WM -3.4%) is downgraded to Underweight from Neutral at J.P. Morgan, which says industry conditions have become more challenging due to declines in recycled commodity prices and its exposure to spot electricity prices. The firm also says a lower cash flow outlook cuts into WM's ability to increase dividends or buy back shares.