Barclays Raises GFL Environmental Price Target to C$88.00

GFL Environmental Inc. (CVE:GFL) has seen its price target increased from C$86.00 to C$88.00 by analysts at Barclays. This adjustment was noted in a research report published on Monday, October 2, 2023, according to BayStreet.CA. The revision reflects growing confidence in the company’s performance amid a competitive market for environmental services.

Several other financial institutions have also recently reassessed their outlook on GFL. Analysts at CIBC reduced their target price for GFL shares from C$81.00 to C$79.00 while maintaining an “outperform” rating in a research note released on the same date as Barclays’ update. Meanwhile, ATB Capital raised its target from C$78.00 to C$82.00, reinforcing a positive stance with an “outperform” rating noted in a report dated August 1, 2023.

In contrast, National Bankshares lowered its price target from C$78.75 to C$76.26, also designating an “outperform” rating in a subsequent report released on October 7, 2023. Citigroup made a more optimistic adjustment, increasing its price target from C$58.00 to C$61.00 and issuing a “buy” rating on September 16, 2023. Stifel Nicolaus, however, adjusted its price objective downward from C$86.00 to C$84.00 in a report on October 2, 2023.

Overall, five equity research analysts currently rate GFL with a Buy designation. According to data from MarketBeat.com, GFL Environmental boasts an average rating of “Buy” and a consensus price target of C$79.03.

About GFL Environmental Inc.

GFL Environmental Inc. operates as a diversified environmental services company across Canada and the United States. The firm provides a range of services, including non-hazardous solid waste management, infrastructure and soil remediation, and liquid waste management. Its solid waste management division encompasses the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste for municipal, residential, commercial, and industrial clients.

As the environmental services sector continues to evolve, GFL remains positioned to adapt and thrive, benefiting from increased focus on sustainable waste management solutions. Investors and stakeholders will be closely monitoring the company’s performance and future developments as it navigates this dynamic marketplace.