Truist initiated coverage of Clean Harbors with a Buy rating and $165 price target. Clean Harbors is the leading hazardous waste and oil re-refining company in the U.S., the analyst tells investors in a research note. The firm says the company should be a primary beneficiary of increased funding for environmental and infrastructure programs. In addition, Clean Harbors should see structural margin gains in Safety-Kleen Oil and continued above-trend pricing increases in environmental services. Truist believes investors underappreciate the "competitive moat" of the company’s asset base.
Published first on TheFly
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