The Globe and Mail reports in its Friday, Oct. 3, edition that CIBC Capital Markets analyst Kevin Chiang has reiterated his "outperform" recommendation for GFL Environmental. The Globe's David Leeder writes in the Eye On Equities column that Mr. Chiang, however, trimmed his share target to $79 from $81. Analysts on average target the shares at $74.28. Mr. Chiang says in a note: "Since April 30, the waste names have underperformed the broader market by an average of 27 per cent. We attribute the bulk of the underperformance to a rotation away from defensive sectors such as waste. The other concern we often hear from investors is the risk of negative earnings for the waste sector given the downward move in commodity prices. In this report, we make the case that we are at the extremes in terms of the rotation trade while we estimate that the downside risk to H2/25 and 2026 revenue and EBITDA is more modest than feared. We have tweaked our estimates, with our 2026E EBITDA declining by an average 1.9 per cent. We also adjust our price target multiples to reflect the rotation away from defensive equities." The Globe reported on Sept. 17 that Citi analyst Bryan Burgmeier rated GFL "buy." It was then worth $64.26.