Fly News Breaks for May 2, 2019
May 2, 2019 | 09:14 EDT
Stifel analyst Michael Hoffman noted that Clean Harbors shares sold off after the company's earnings report and guidance, some of which he believes is due to profit taking with the stock have risen nearly 50% year-to-date into the report. However, he blames the pullback "mostly" on the one-time pros and cons in Q1. With this said, he contends that the company's increased guidance is attributable to a better business climate than existed when the original guidance was offered, not just one-time benefits. Hoffman keeps a Buy rating and $80 target price on Clean Harbors shares and maintains the stock on the Stifel Select List.
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