Stifel Makes a Call on GFL Environmental Inc (GFL) Stock, Cites Secure Waste

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.

Stifel Makes a Call on GFL Environmental Inc (GFL) Stock, Cites Secure Waste

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.

While we acknowledge the risk and potential of GFL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GFL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Data Center Stocks to Invest In According to Billionaires and 10 Best Debt-Free IT Stocks to Buy Now.

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1