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In a report published Tuesday, KeyBanc Capital Markets analyst Joe Box initiated coverage on
Clean HarborsCLH with a Buy rating and $74.00 price target.
In the report, KeyBanc Capital Markets noted, “We are of the opinion that investor expectations could be reset as a result of: 1) three of the last five quarterly results have fallen short of earnings expectations by an average of approximately 10% and driven subsequent downward estimate revisions; 2) CLH also possesses an above average number of shares short; and 3) we are of the view that several near-term items could bolster 2014, potentially in excess of current expectations. 2013 EPS consensus estimates peaked at $3.08 in February 2012 and have since receded to $2.12.”
Clean Harbors closed on Monday at $61.66.
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