Stericycle Price Target Raised to $115.00 at Oppenheimer (SRCL)

Investment analysts at Oppenheimer lifted their target price on shares of Stericycle (NASDAQ: SRCL) from $105.00 to $115.00 in a note issued to investors on Monday. The firm currently has an “outperform” rating on the stock.

The analysts wrote, “We recently met with CEO Charlie Alutto and infer SRCL continuing to deliver strong core organic growth, with 2013-2014 upside potential from emerging drivers Patient Communication and particularly StrongPak (hazardous waste offering to retailers). StrongPak contributed upside to 4Q12 overall organic growth, and is well positioned to capture incremental elevated growth as big box retailers increasingly adopt outsourced solutions to hazardous waste disposal in an increased regulatory enforcement environment. Furthermore, with core organic/acquisitive growth intact for the foreseeable future, we anticipate investors gravitating to SRCL’s relatively dependable (“safe”) growth profile in the current market environment.”

Shares of Stericycle (NASDAQ: SRCL) traded down 0.75% during mid-day trading on Monday, hitting $103.455. Stericycle has a 52 week low of $81.16 and a 52 week high of $104.75. The stock’s 50-day moving average is currently $97.75. The company has a market cap of $8.906 billion and a P/E ratio of 33.84.

Stericycle (NASDAQ: SRCL) last issued its quarterly earnings data on Wednesday, February 6th. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.86 by $0.02. The company had revenue of $503.63 million for the quarter, compared to the consensus estimate of $491.37 million. During the same quarter last year, the company posted $0.76 earnings per share. Stericycle’s revenue was up 12.8% compared to the same quarter last year. Analysts expect that Stericycle will post $3.70 earnings per share for the current fiscal year.

SRCL has been the subject of a number of other recent research reports. Analysts at Wedbush reiterated an “outperform” rating on shares of Stericycle in a research note to investors on Monday, March 18th. They now have a $110.00 price target on the stock, up previously from $102.00. Separately, analysts at Goldman Sachs initiated coverage on shares of Stericycle in a research note to investors on Wednesday, March 13th. They set a “buy” rating and a $115.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Stericycle in a research note to investors on Wednesday, February 27th. They now have a $100.00 price target on the stock.

Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $105.32.

Stericycle, Inc. is engaged in the business of managing regulated waste and providing an array of related services.

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