BUZZ - UBS upgrades

October 21 - ** The environmental protection and industrial waste services company Clean Harbors (CLH.N, CLH.N) saw its shares rise 1.2% on Wednesday to $320.12, after UBS upgraded its rating from "Neutral" to "Buy," citing upside potential in earnings due to capital allocation and improved fundamentals as the main reasons.

** According to data from London Stock Exchange Group (LSEG), the brokerage raised its target price by $50 to $375, while the median target price given by Wall Street analysts is $364.

** UBS stated that although management targets to maintain leverage above 2.0 times, market consensus expects leverage to decline to 1.0 times by 2030, which provides room for acquisitions and/or share buybacks.

** UBS said its estimate for fiscal 2027 earnings before interest, taxes, depreciation and amortization (EBITDA) per share is 5% higher than market consensus, mainly due to expected improvement in gross margin—benefiting largely from the positive outlook for the company's Safety-Kleen sustainable solutions business. In addition, UBS expects idle capacity on the balance sheet will contribute about 20% incremental EBITDA.

** CLH is scheduled to announce its third-quarter results on October 28; UBS said its forecast is basically in line with market expectations, but persistently high oil prices may offer further upside for earnings.

** The stock's recent price-to-earnings ratio is 31 times, while the average forward P/E ratio over the past five years was 25 times.

** Of 18 brokers, 14 have rated the stock as "Strong Buy" or "Buy," while 4 have given it a "Hold" rating.

** The stock is up about 37% year-to-date, significantly outperforming the S&P 400 Industrials' 3% gain .SPMDCI; its current price is about 5% below the record intraday high of $335.94 reached on July 29, 2026.

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