Clean Harbors price target raised to $260 from $240 at Truist

Truist raised the firm’s price target on Clean Harbors to $260 from $240 and keeps a Buy rating on the shares as part of a broader research note on Environmental Services companies. The sector should continue to benefit from widening price/cost spread as pricing remains elevated on lagging CPI resets while labor and supply chain related expense growth should continue to moderate on a sequential basis, the analyst tells investors in a research note. Large players increasingly applying capital outside the core Solid Waste business has also prompted investors to question if antitrust/shrinking private company market share suggests a narrowing M&A window, and the firm’s analysis suggests that if the torrid pace of deal-making over the past five years continues, consolidation could peak in the early 2030s, the firm adds.