UPDATE: JPMorgan Reinstates GFL Environmental (GFL) at Overweight

March 1, 2022 7:44 AM EST
Get Alerts GFL Hot Sheet
Price: $28.16 -0.53%

Rating Summary:
    4 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 5 | Down: 14 | New: 17
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(Updated - March 1, 2022 7:45 AM EST)

JPMorgan analyst Stephanie Yee reinstates coverage on GFL Environmental (NYSE: GFL) with a Overweight rating and a price target of $41.00.

The analyst comments "We rate GFL Overweight with a Dec-22 price target (PT) of US$41, as we see high growth potential in the company through M&A and leveraging its larger solid waste platform. We think GFL can improve its margins and FCF as management rationalizes the company’s portfolio and continues to grow the business. Notably, in February 2022, GFL announced that it is spinning out its infrastructure business into a new entity called Green Infrastructure Partners, which would raise remaining GFL’s adjusted EBITDA margin by +100bps to 27.5% pro forma in 2021."

For an analyst ratings summary and ratings history on GFL Environmental click here. For more ratings news on GFL Environmental click here.

Shares of GFL Environmental closed at $29.25 yesterday.

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