Oppenheimer analyst Noah Kaye raised the firm’s price target on Clean Harbors (CLH) to $256 from $254 and keeps an Outperform rating on the shares. The firm notes shares recovered from initial lows Wednesday after Clean Harbors beat Q2 adjusted EBITDA consensus and reiterated FY25 EBITDA/free cash flow guidance midpoints. While share reaction may have partly reflected investor concerns on broader ES market trends, Oppenheimer views Clean Harbors’ Q2 ES margin outperformance as sustainable. The firm sees pockets of conservatism in the reiterated guide, with June results a favorable jumping-off point and management indicating broad-based pipeline strength.
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