Why Did Scotiabank Lower Its Price Target on GFL Environment…

We recently compiled a list of the 8 Most Oversold Large Cap Stocks to Buy. GFL Environmental Inc. (NYSE:GFL) is among the most oversold stocks.

TheFly reported on May 4 that GFL had its valuation outlook adjusted as Scotiabank reduced its price target to $52 from $56 while maintaining an Outperform rating on the stock. The revision reflects updates to the firm’s valuation model in connection with the expected acquisition of SECURE Waste Infrastructure, which is being incorporated into its outlook for the company’s future performance and earnings profile.

In addition to that, earlier on April 29, GFL Environmental Inc. (NYSE:GFL) reported its first quarter 2026 financial performance along with updated full-year guidance. Revenue for the quarter reached $1.64 billion, reflecting 5.4% growth, supported by strong core pricing contributions. Adjusted EBITDA rose 12.3% to $478.5 million, with margins improving year over year to 29.1%, indicating stronger operational efficiency.

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The company reported a net loss from continuing operations of $219.2 million, slightly wider than the prior-year period, while adjusted free cash flow was negative $24.3 million. Separately, GFL raised its full-year 2026 outlook, increasing expected revenue to approximately $7.32–$7.34 billion, driven primarily by completed acquisitions. Adjusted EBITDA and free cash flow guidance were also revised upward, while capital expenditure and interest expectations were maintained. The update reflects incremental contributions from recent acquisitions while keeping underlying assumptions unchanged.

GFL Environmental Inc. (NYSE:GFL) is a North American environmental services company based in Vaughan. It provides waste management, recycling, and environmental services across Canada and the U.S., serving millions of residential and commercial customers.

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