The Globe and Mail reports in its Friday, Dec. 20, edition that CIBC World Markets analyst Kevin Chiang still ranks GFL Environmental and Waste Connections "outperformer." The Globe's David Leeder writes in the Eye On Equities column that Mr. Chiang boosted his share target for GFL by a loonie to $76 (Canadian). Analysts on average target GFL shares at $66.46 (Canadian). Mr. Chiang gave his Waste Connections share target a $3 (U.S.) trim to $212 (U.S.). Analysts on average target the Waste Connections shares at $201.41 (U.S.). Mr. Chiang says in a note: "We maintain our positive view on the solid waste sector. We continue to expect pricing-led organic growth, a deep M&A pipeline, and synergy capture opportunities to drive healthy earnings growth in 2025. As we exit this year, OCC and RIN prices moved significantly lower. We have adjusted our estimates to reflect these recent developments. We view GFL and Republic Services as the least exposed to the movement in commodity prices, followed by Waste Connections, and then Waste Management given the latter's larger sustainability investment portfolio. ... The decline in OCC and RIN prices poses an earnings headwind heading into 2025."