UPDATE: Imperial Capital Initiates Coverage on Clean Harbors Awaiting Further Visibility

In a report published Friday, Imperial Capital analyst Scott Levine initiated coverage on Clean Harbors CLH with an In-Line rating and $66.50 price target. In the report, Imperial Capital noted, “We are initiating coverage on CLH shares with an In-Line rating and a one-year price target of $66.50, 9% above the recent price. CLH is one of the leading specialty waste companies in North America, with a wide range of services, and a substantial base of treatment and disposal assets that affords it considerable competitive advantages in its environmental businesses. We see mixed implications from CLH's increased exposure to oil & gas, which offers attractive growth potential, but also increases risk due to exposure to external factors such as commodity prices, weather, and competition. Our one-year price target of $66.50 assumes 7.5x FY15 EV/EBITDA, reflecting attractive growth prospects (though modest EBITDA/FCF margins), relative to peers.” Clean Harbors closed on Thursday at $60.83.