04:35:23 EDT Wed 24 Jul 2024
Enter Symbol
or Name

GFL Environmental Inc
Symbol GFL
Shares Issued 364,726,221
Close 2024-07-09 C$ 52.80
Market Cap C$ 19,257,544,469
Recent Sedar Documents

Globe says GFL seen mulling several options

2024-07-10 09:26 ET - In the News

The Globe and Mail reports in its Wednesday, July 10, edition that BMO Capital analyst Devin Dodge has lowered his rating for GFL Environmental to "market perform" from "outperform," believing that the risk-reward appears balanced. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Dodge tweaked his share target back by a buck to $42 (all figures U.S.). Analysts on average target the shares at $44.47. Mr. Dodge says in a note: "With the shares up about 25 per cent since early June, we believe there is significant optimism for the potential sale of the environmental services division already reflected in the stock. Should a transaction not materialize, we suspect the stock could give back some of its recent gains." Mr. Dodge says GFL is believed to be evaluating multiple strategic options, with the two most likely scenarios being the sale of its ES division and a private equity consortium displacing the current group of private equity funds. The Globe reported on June 19 that ATB Capital Markets analyst Chris Murray had resumed coverage on GFL Environmental with an "outperform" recommendation. The shares could then be had for $38.37.

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