Billionaire Lee Ainslie’s 5 Stocks with Huge Upside Potential

4. GFL Environmental Inc (NYSE:GFL)

Maverick Capital Equity Stake: $160.61 Million

Number of Hedge Fund Holders: 44

Stock Upside Potential: 58.26%

GFL Environmental Inc (NYSE:GFL) is one of billionaire Lee Ainslie’s stocks with huge upside potential. On May 11, Stifel reaffirmed its Buy rating on GFL Environmental Inc (NYSE:GFL) stock with a price target of $65.

For this call, the firm cited expected benefits from GFL Environmental’s acquisition of Secure Waste. This followed a recent dinner with the executives from both companies.

According to Stifel, the deal looks financially favorable for GFL Environmental. It could bolster GFL’s financial metrics and debt capacity, potentially making it easier for the company to fund future acquisitions.

Secure Waste is a leading waste management provider in Western Canada and North Dakota. It operates 12 landfills, 12 recycling facilities, and 55 waste treatment facilities. Stifel noted that for GFL, this acquisition represents an investment in Western Canada’s long-term growth potential.

GFL Environmental agreed to acquire Secure Waste for roughly C$6.4 billion, and it plans to pay for the transaction with a combination of stock and cash. The cash component of the transaction will be funded with cash on hand, a bridge facility, and a revolving credit facility. GFL Environmental has obtained full financing commitment for this transaction.

GFL Environmental Inc (NYSE:GFL) is a waste management company operating in the US and Canada. It provides solid waste collection, recycling, and disposal services. The company serves municipal, residential, industrial, and institutional customers.