GFL Environmental Holdings Inc. (GFL) stock soared 5.04% on Friday to close the trading session, outperforming the broader market. This surge came on the heels of the company's analyst event which painted an optimistic picture of its future prospects.

The waste hauler announced its plan to divest its hazardous waste handling business and use the proceeds to reduce debt and repurchase stock from private equity firms that owned the company before its 2020 IPO. After this transaction, GFL is expected to achieve an EBITDA of around $1.3 billion in 2025, representing a comparable growth of approximately 10% compared to 2024 projections.

Beyond 2025, the company aims to grow its EBITDA by nearly 20% annually over the next three years, driven by double-digit sales growth and improving profit margins. Analysts project that with the planned share buybacks, GFL could generate free cash flow per share of around $2.70 in 2028, which at multiples similar to its larger peers like Waste Management and Republic Services, would translate to a share price closer to $65, marking an upside of around 45% from current levels.