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GFL Environmental upgraded to buy on strong pricing power and margin growth, despite macro concerns.

Analyst Insights
13 May 2026
Seeking Alpha
View Source
Bullish
pluang ai news

GFL Environmental was upgraded to a buy rating due to its strong pricing power and margin expansion, independent of macroeconomic recovery. The company reported a 4.6% organic revenue growth in Q1 2026, with pricing up 7% and an adjusted EBITDA margin increase of 180 basis points to 29.1%. The acquisition of SECURE Waste Infrastructure is expected to add value with identified synergies of CAD25–75 million and strong volume visibility. GFL trades at a discount to peers with a 11.5x NTM EBITDA multiple, maintaining low-to-mid-teens adjusted EBITDA growth and offering an attractive risk-reward profile.

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