Clean Harbors To Gain From Robust Pricing Trends In Environmental Services Business, Analyst Forecasts ~30% ES Margins
Portfolio Pulse from Nabaparna Bhattacharya
Truist Securities analyst Tobey Sommer reiterated a Buy rating on Clean Harbors, Inc. (NYSE:CLH), raising the price target to $200 from $165. The analyst is encouraged by robust Environmental Services pricing trends, with all ES business lines growing organically y/y in Q2. However, CLH lowered 2023 SKSS EBITDA guidance by another ~13% as the summer driving season failed to stabilize base oil demand.
August 04, 2023 | 2:11 pm
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Clean Harbors, Inc. (NYSE:CLH) has had its price target raised to $200 from $165 by Truist Securities analyst Tobey Sommer, who cites robust Environmental Services pricing trends. However, CLH lowered 2023 SKSS EBITDA guidance by ~13% due to unstable base oil demand.
The raised price target indicates the analyst's positive outlook on the company, which could potentially lead to an increase in the stock price. However, the lowered EBITDA guidance for 2023 due to unstable base oil demand could negatively impact investor sentiment.
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