TD Cowen named GFL Environmental a best idea for 2024 while keeping an Outperform rating on the shares with a $40 price target. The analyst says the company’s leverage concerns appear overblown and should recede with continued improvement in metrics over the coming quarters. This should drive the stock’s valuation back to normal levels and in-line with peers, the analyst tells investors in a research note.
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Read More on GFL:
- GFL Environmental price target lowered to C$52 from C$54 at National Bank
- GFL Environmental provided update on its FY24 capital allocation strategy
- GFL Environmental initiated with an Equal Weight at Wells Fargo
- BGL Announces the Sale of Fielding Environmental to GFL Environmental Inc.
- TD Cowen starts GFL Environmental with an Outperform, sees 39% upside
