Northland initiated coverage of Quest Resource with an Outperform rating and $12.50 price target. Quest is a national provider of both waste and recycling solutions to large enterprises, notes the analyst, who argues that Quest’s asset-light business model “drives a true flywheel effect that delivers scale and network effects.” Quest is a pure B2B player in the space by providing waste generators “a one-stop shop for all disposal needs” with expertise in 100-plus waste streams and a nationwide footprint, the analyst added.
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