01:17 PM EST, 01/07/2025 (MT Newswires) -- Truist Securities has trimmed their '25 and '26 revenue and EPS estimates for GFL Environmental ( GFL ) to better-align with prior management comments and weaker recycled commodity pricing.

In the Jan. 6 note, Truist said it viewed GFL's vesting of its environmental services (ES) segment for $8 billion favourably. "We think the reported valuation at CAD ~$8B (or we estimate ~$7B on a post-tax basis) of ~16x '25E EBITDA is a positive outcome for shareholders." GFL announced today that it was divesting the unit for $8 billion.

Lowering 2025E revenue to $8.25 billion (prior: $8.26 billion) and maintain adj. EPS at $1.30.Truist has also trimmed 2026 revenue to $8.64 billion (prior: $8.66 billion) and adj. EPS at $1.48. (The model still includes the ES segment).

GFS is rated Buy, with a US$54 target.

Price: 61.79, Change: -1.30, Percent Change: -2.06