Truist Securities analyst Tobey Sommer reiterated a Buy rating and $310.00 price target on Clean Harbors (NYSE: CLH)

The analyst commented, "The Department of Defense (DoD) released updated interim guidelines for PFAS disposal. Incineration was included in the acceptable disposal methods, along with hazardous waste landfills, carbon reactivation units, and some emerging technologies. Solid waste landfills with certain characteristics/safety features were also included, although not for AFFF, the firefighting foam which contains PFAS, historically used at DoD sites... We think the PFAS moratorium being removed could be a LT catalyst for PFAS growth, both in federal and private sector work. While guidance is labeled interim, the three year moratorium on PFAS incineration within the DoD has officially been removed. We would remind investors of the 180 day timeline from the passage of the NDAA in December for the DoD to release updated PFAS disposal guidelines. We could see an elongated timeline for PFAS project announcements given the current Iran conflict pushing other objectives to the backburner. However, CLH has maintained focus in recent quarters on the LT opportunity from PFAS incineration rather than any NT inflection. DoD has earmarked almost $13B for PFAS, including $10B from the IIJA. CLH anticipates steady y/y growth of ~20% for the PFAS business in 2026."

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Shares of Clean Harbors closed at $290.55 yesterday.