The Globe and Mail reports in its Wednesday, March 12, edition that National Bank Financial analyst Rupert Merer has elevated his share target for GFL Environmental to $75 from $70. The Globe's David Leeder writes that analysts on average target the shares at $69.23. Mr. Merer says GFL Environmental's sale of its environmental services segment to Apollo Funds and BC Partners last week for an $8-billion enterprise value helps it to both delever and improve free cash flow conversion. Mr. Merer says in a note: "Proceeds from the ES sale should be used to repay up to $3.75-billion of debt in Q1'25E, which lowers its 2026E leverage ratio to approximately three times. The remaining proceeds should be used for up to $2.25-billion in share repurchases (we model 34.3 million reduction in shares outstanding) and general corporate purposes. ... During its recent Investor Day, GFL updated plans to restart its M&A program, which should be funded primarily with internal equity from improved FCF conversion. FCF conversion is set to improve immediately by 1,000 basis points, with debt reduction driving an $200-million per year reduction in cash interest and EBITDA margin expansion from shedding its lower-margin segment."