ATB Capital Markets lowered its price target on GFL Environment Inc. (GFL.TO) to $78 from $80.
Analyst Chris Murray maintained an Outperform rating on shares of the Canadian waste management company ahead of its quarterly results on July 30.
"We expect the company to report strong Q2/25 results, led by expectations for mid-single-digit price-led growth," Murray said in a note to clients.
"We are lowering our margin outlook for H2/25 to better reflect the anticipated impact of lower recycled commodity and RIN pricing and the stronger C$," the analyst said.
"We remain constructive on GFL heading into H2/25, particularly with the improving margin profile and late-cycle dynamics, acknowledging the discount to peers has narrowed significantly over the past 12 months."
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