Reported 3 days ago
JPMorgan has downgraded GFL Environmental Inc. from 'Overweight' to 'Neutral' while increasing its price target from $51.00 to $54.00 following GFL's sale of its Environmental Services business. The company retains a significant equity interest and plans to repay debt using proceeds from the transaction. Despite expectations of lower EBITDA margins in the medium term due to reduced landfill ownership, JPMorgan sees growth potential in GFL through strategic acquisitions in the solid waste sector.
Source: YAHOO