CIBC Capital Markets raised its price target on GFL Environmental Inc. (GFL.TO) to $76 from $75, and lowered its target on Waste Connections Inc. (WCN.TO, WCN) to US$212 from US$215.
Analyst Kevin Chiang maintained an Outperformer rating on both companies.
"We maintain our positive view on the solid waste sector," Chiang said in a note to clients.
"We continue to expect pricing-led organic growth, a deep M&A pipeline, and synergy capture opportunities to drive healthy earnings growth in 2025," the analyst said.
"We view GFL and Republic Services Inc. (RSG) as the least exposed to the movement in commodity prices, followed by WCN, and then Waste Management Inc. (WM) given the latter's larger sustainability investment portfolio."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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