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Fly News Breaks for February 7, 2020
HSC, SRCL
Feb 7, 2020 | 14:55 EDT
Barrington Research analyst Kevin Steinke maintained an Outperform rating and $67 price target on Stericycle (SRCL) after the company agreed to sell its Environmental Solutions business to Harsco (HSC) for $462.5M in cash. Steinke said he views the transaction as a clear positive for Stericycle, as it marks substantial progress on the company's strategic priorities of rationalizing its business portfolio to core services that are a long-term strategic fit for the company and reducing debt and financial leverage. The analyst added that margins will improve due to the sale, noting that he is not updating his estiamtes at this time and will await the company's next earnings report before doing so.
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