Oppenheimer Maintains a 'Perform' on Clean Harbors (CLH); Putting the Yellowstone Spill In Perspective; Acquisition of Destiny Resources
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Price: $320.18 -1.8%
Rating Summary:
22 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 13 | New: 26
Rating Summary:
22 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 13 | New: 26
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Oppenheimer maintains a 'Perform' on Clean Harbors (NYSE: CLH).
Oppenheimer analyst said, "Headlines have focused on the Yellowstone River oil spill, which we believe should provide some revenue opportunity for CLH. However, in the scheme of things, we believe the oil spill will have a deminimus impact on CLH results. On a separate note, while representing only 2% of total revenue, we view the acquisition of Destiny Resources Service Corp. as favorable as it continues to build out the company's front-end oil & gas exploration services, particularly related to U.S. shale opportunities."
"We continue to view the prospects for CLH as favorable and note additional potential upside from current levels. However, relative performance and valuation keep us at Perform for the time being. We look to be more opportunistic on any pull- backs."
For more ratings news on Clean Harbors click here and for the rating history of Clean Harbors click here.
Shares of Clean Harbors closed at $104.82 yesterday.
Oppenheimer analyst said, "Headlines have focused on the Yellowstone River oil spill, which we believe should provide some revenue opportunity for CLH. However, in the scheme of things, we believe the oil spill will have a deminimus impact on CLH results. On a separate note, while representing only 2% of total revenue, we view the acquisition of Destiny Resources Service Corp. as favorable as it continues to build out the company's front-end oil & gas exploration services, particularly related to U.S. shale opportunities."
"We continue to view the prospects for CLH as favorable and note additional potential upside from current levels. However, relative performance and valuation keep us at Perform for the time being. We look to be more opportunistic on any pull- backs."
For more ratings news on Clean Harbors click here and for the rating history of Clean Harbors click here.
Shares of Clean Harbors closed at $104.82 yesterday.
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