- Raymond James analyst Patrick Tyler Brown upgraded Clean Harbors Inc CLH to Strong Buy from Outperform and raised the price target to $125 (an upside of 27%), from $120.
- Brown says that he has increased conviction in the name following the "opportunistic" pullback from recent highs despite a "very solid" Q3, catalysts into 2022, and the fact that Clean Harbors is relatively cheap to the market as it has been in the past ten years.
- The analyst sees catalysts in 2022, including a record backlog, benefits from Clean Harbors' recent Hydrochem acquisition with limited synergies baked-in, and the feathering of the recently announced 3M Co MMM contract that represents the single largest contract win in the company's history.
- Price Action: CLH shares are trading higher by 2.65% at $98.36 on the last check Monday.
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