12:35 AM EDT, 05/02/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target to $225 from $215, valuing shares at 25.2x our 2025 EPS outlook of $8.91 ($0.11 higher; 2024 EPS estimate updated to $7.65 from $7.54), in line with CLH's long-term historical forward P/E average. CLH posted Q1 EPS of $1.29 (down 5% Y/Y), $0.14 above the consensus forecast. Q1 revenues advanced 5% over the previous year, led by 10% growth within CLH's Environmental Services business amid steady demand and traction on pricing initiatives. Sustainability solutions fell 14% in Q1 due to unfavorable oil and lubricant pricing, though market demand trended positively towards the end of the quarter. A number of market tailwinds, including reshoring and a shifting regulatory landscape, are driving demand for CLH's environmental services higher. Like other environmental peers, CLH's margins are widening from momentum in pricing, with adjusted EBITDA margin expanding 20 bps to 16.7% Y/Y. We view CLH's Q1 as a solid start to 2024 and anticipate further upside.