The Globe and Mail reports in its Thursday, July 3, edition that ATB Capital Markets analyst Chris Murray is keeping his "outperform" call on GFL Environmental intact. The Globe's David Leeder writes that Mr. Murray gave his share target a $2 trim to $78. Analysts on average target the shares at $71.19. While Mr. Murray expects GFL to report "strong" second quarter results on July 30, projecting mid-single-digit price-led growth, he has lowered his margin outlook for second half of 2025 to "better reflect the anticipated impact of lower recycled commodity and RIN pricing and the stronger Canadian dollar." Mr. Murray says in a note: "ATB estimates remains in-line with guidance for Q2/25 and 2025, and we expect the latter to be revised upwards at Q2/25 given M&A completed in H1/25. We expect to get an update on the price/volume outlook as well as capital allocation given the active M&A environment, recent buyback activity and strategic options surrounding Green Infrastructure Partners with Q2 results. We remain constructive on GFL heading into H2/25, particularly with the improving margin profile and late-cycle dynamics, acknowledging the discount to peers has narrowed significantly over the past 12 months."