BMO Capital analyst Devin Dodge has maintained their bullish stance on CLH stock, giving a Buy rating on October 18.
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Devin Dodge has given his Buy rating due to a combination of factors that suggest a positive risk/reward outlook for Clean Harbors. Despite the recent underperformance in the Environmental Services segment, the Safety-Kleen Sustainability Solutions segment is providing a stable base for profitability. The company also benefits from a robust balance sheet and a promising pipeline of growth opportunities, both organically and through mergers and acquisitions.
Moreover, Clean Harbors is actively evaluating significant internal expansion projects, including a major re-refining plant expected to generate substantial EBITDA upon completion. While there are short-term challenges, particularly in some key end markets, the company’s pricing strategies in the Environmental Services division are anticipated to counteract cost pressures and enhance margins. These factors, coupled with the company’s capacity for self-funded M&A activities and share buybacks, underpin the Buy rating.
In another report released on October 18, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $268.00 price target.