-- Stifel Canada on Friday maintained its hold rating on the shares of Secure Waste Infrastructure (SES.TO) while raising its price target to C$23.25 from C$23.00 after the company reported first-quarter results ahead of its sale to GFL Environmental (GFL.TO).
"SECURE delivered a 3.7% consensus EBITDA beat in 1Q26 and guided full-year 2026 EBITDA to the high end of the previous guided range of $520 mm-$550 mm. This implies a 2.2% increase to Stifel's and consensus $538 mm EBITDA estimates prior to this update to $550 mm. We view this a solid data point that once again proves the stability and resiliency of SES's earnings profile, which bodes well for the GFL's pending acquisition of SES. We are changing our target price to $23.25 from $23.00 based on the latest closing price of GFL, while our Hold rating is unchanged," analyst Ian Gillies wrote.
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Price: $22.72, Change: $-0.43, Percent Change: -1.86%