Citi upgrades Clean Harbors to Buy on chemicals upside

Citi analyst Bryan Burgmeier upgraded Clean Harbors (CLH) to Buy from Neutral with a price target of $346, up from $302. The firm believes stronger chemicals production in the U.S. will make up for lost production in the Middle East. This could lead to more hazardous waste disposal opportunities for Clean Harbors, the analyst tells investors in a research note. Citi sees potential upside to the company’s guidance and believes the stock is not pricing in the chemicals upside.