DA Davidson starts Heritage-Crystal Clean at Buy on strong market positioning

As previously reported last night, DA Davidson analyst Zane Karimi initiated coverage of Heritage-Crystal Clean with a Buy rating and $40 price target. The analyst is positive on the company’s ability to leverage strong market positioning, closed-loop capabilities, and a flexible balance sheet that could be deployed to improve the breadth of its environmental and industrial service offerings further. Karimi adds that Heritage-Crystal’s 5-turn discount to peers "appears overdone".