Long Position on GFL @ $31.75 on 3/9/2021 (Momentum)

GFL Environmental Inc. (GFL) operates as a diversified environmental services company in Canada and the United States.

The company offers non-hazardous solid waste management, infrastructure and soil remediation, and liquid waste management services.

Its solid waste management business line includes the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste for municipal, residential, and commercial and industrial customers.

The company's infrastructure and soil remediation business line provides remediation of contaminated soils, as well as complementary services, including civil, demolition, and excavation and shoring services.

Its liquid waste management business collects, manages, transports, processes, and disposes of a range of industrial and commercial liquid wastes, as well as resells liquid waste products. 

Shares have formed a bullish "cup and handle" following the company's latest quarterly report. Higher share prices are expected. The Company reported Quarter December 2020 earnings of $0.03 per share on revenue of $948.2 million. The consensus earnings estimate was $0.01 per share on revenue of $953.8 million. The company said it expects 2021 revenue of $4.00 billion to $4.075 billion. 

Entry Point: $31.75

Stop Loss: $30.00

Trading Range: $11.92 - $33.69

Target Price: $34.93

Updates

4/1/2021 3:15:25 PM

GFL closed at $35.37

Position closed on 4/1/2021 at price of $35.37 with a 11.40% gain in 23 days.

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