Clean Harbors price target lowered to $273 from $281 at BMO Capital

BMO Capital analyst Jeffrey Silber lowered the firm’s price target on Clean Harbors (CLH) to $273 from $281 and keeps an Outperform rating on the shares. The company’s Q3 earnings miss demonstrated the downside risk from some of its more cyclical businesses, though the backdrop for industrial & hazardous waste services remains favorable, the analyst tells investors in a research note. The outlook for price-led organic growth and significant margin expansion in the Environmental Service segment remains intact and there is less risk of disruption from SKSS – Safety-Kleen Sustainability Solutions – segment after expectations were reset materially lower, the firm added.