The Globe and Mail reports in its Friday, Nov. 8, edition that Bank of America Securities analyst Michael Feniger has reaffirmed his "neutral" recommendation for GFL Environmental. The Globe's David Leeder writes in the Eye On Equities column that Mr. Feniger jacked his share target up by $10 to $67. Analysts on average target the shares at $58.01.
Mr. Feniger says in a note: "GFL reported a solid set of Q3 results: adjusted EBITDA of $626-million increased 18 per cent year-over-year on a 7-per-cent revenue gain. EBITDA was broadly in line with expectations (consensus $624-million) and GFL reiterated its 2024 guidance metrics. While this may be viewed as underwhelming relative to 'raises' from waste peers, GFL did notably raise its FY guidance in FQ2."
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