JPMorgan Downgrades GFL Environmental (GFL) to Underweight

JPMorgan analyst Tami Zakaria downgraded GFL Environmental (NYSE: GFL) from Neutral to Underweight with a price target of $42.00 (from $49.00).

The analyst comments: "Following Monday’s announcement regarding the proposed acquisition of Secure Waste (SES CT, not covered), we are downgrading the shares of GFL to Underweight from Neutral with a Dec 26 PT of $42. We believe the relative risk-reward vs. solid waste peers is unattractive at current levels and the pending acquisition should be a catalyst for valuation de-rating. Our Dec 26 PT is based on ~12x FY1 EV/EBITDA and ~10x our pro-forma 2027 estimates should the acquisition close in 2H26."

For an analyst ratings summary and ratings history on GFL Environmental click here. For more ratings news on GFL Environmental click here.

Shares of GFL Environmental closed at $38.95 yesterday.

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