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Barclays Initiates Clean Harbors At Overweight, US Ecology At Equal Weight

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Barclays Initiates Clean Harbors At Overweight, US Ecology At Equal Weight

Barclays' Jon Windham initiated Clean Harbors Inc (NYSE: CLH) at Overweight and US Ecology Inc (NASDAQ: ECOL) at Equal Weight with price targets of $58.00 and $48.00, respectively.

Windham praised the specialty waste sector's ability to offer "a stable earnings base from regulated hazardous waste disposal… and a service business exposed to a recovery in oil prices and industrial production."

Related Link: Sterne Agee CRT Initiates Coverage On Clean Harbors At Neutral

Clean Harbors has upside potential due to an "expected recover in its oil-related business," while US Ecology is already "fairly valued" said the analyst. Clean Harbor's positive outlook has a lot to do with Barclays' $60.00/bbl crude oil price target for 2017 which would result in a "+21 percent year-over-year 2017 Ebitda growth per share," according to Windham.

Although US Ecology's "unique asset base of hazardous waste landfills provides a foundation for long-term reliable earnings," Barclays views "shares as currently fairly valued."

At the time of writing Clean Harbors was trading at $48.83, up 0.99 percent, and US Ecology at $42.46, down 0.18 percent.

Latest Ratings for CLH

DateFirmActionFromTo
Aug 2020BMO CapitalMaintainsOutperform
Aug 2020StifelMaintainsBuy
Jun 2020NeedhamMaintainsBuy

View More Analyst Ratings for CLH
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