JP Morgan Raises GFL Environmental (GFL) Price Target to $42

JP Morgan reiterated an Underweight rating on GFL Environmental Inc. (NYSE:GFL) on October 21, 2026, while lifting its price target from $41.00 to $42.00. The research note provides a cautious view that stands apart from the broader Wall Street consensus, which leans more optimistic ahead of the company's upcoming financial results.

GFL GFL Environmental Inc.

$43.73 ▲ +2.10% year to date

1M 3M YTD

Daily close · Oct 22, 2026

JP Morgan's Call on GFL Environmental

On October 21, 2026, JP Morgan maintained its Underweight stance on the waste management firm while adjusting its target by one dollar. This update follows earlier coverage by the same bank in July, when it maintained an Underweight rating alongside a $41.00 target.

Other Institutional Activity in GFL Environmental

Large institutional investors held significant positions in the company heading into the second half of the year. Bc Partners Pe LP maintained its holdings, ending with 29,912,724 shares worth about $1.31 billion. Ontario Teachers Pension Plan Board also kept its stake steady, holding 22,450,784 shares valued at roughly $983.6 million. Massachusetts Financial Services Co. trimmed its holdings by 79,904 shares, ending with 10,865,869 shares worth about $476.0 million. Meanwhile, Nordea Investment Management AB grew its holdings by 2,218,321 shares, a 26.8% increase, ending with 10,483,301 shares valued at about $459.3 million. Maverick Capital Ltd. added 6,353,320 shares, representing a 165.0% increase, finishing with 10,202,931 shares worth roughly $447.0 million.

GFL Environmental Inc. Stock Holds Steady

GFL Environmental shares recently traded around $43.48, matching the closing price of $43.48 on October 21, 2026. The stock trades about 3.0% above its 50-day moving average of $42.22 and roughly 6.8% above its 200-day moving average of $40.70. Shares sit 7.0% below their 52-week high of $46.77 and 30.5% above their 52-week low of $33.33. The company carries a market capitalization of roughly $19.1 billion and a forward P/E ratio of 46.68.

Recent Earnings

For the trailing twelve months, GFL Environmental generated $6.97 billion in revenue, with a year-over-year revenue growth rate of 16.3%. The company posted a negative net profit margin of 2.9% and a negative return on equity of 2.3%, resulting in negative earnings per share of $0.46. The company is scheduled to release its next earnings report on October 28, 2026.

Dividend

GFL Environmental pays an annual dividend of $0.07 per share, yielding 0.16%. The company's dividend payout ratio stands at 17.2%.

Analysts Set New Price Targets

Wall Street firms hold varied opinions on the stock's trajectory. Scotiabank maintained a Sector Outperform rating while raising its target to $57.00 on September 2, 2026. TD Cowen reiterated a Buy rating with a $65.00 price target on September 11, 2026. Across 13 analyst opinions tracked by the consensus, the recommendation key stands at buy, with a mean price target of $51.41.

About GFL Environmental Inc.

GFL Environmental Inc. operates in the waste management sector, providing non-hazardous solid waste collection, transportation, recycling, and disposal services. Serving municipal, residential, commercial, and industrial customers across Canada and the United States, the company plays a key role in regional infrastructure. Founded in 2007 and headquartered in Miami Beach, Florida, the firm manages large-scale waste and recycling operations.

Bottom Line

Investors will look closely at GFL Environmental's upcoming earnings report on October 28, 2026, for fresh details on profitability and operational growth. JP Morgan's cautious stance highlights differing views on valuation as the company approaches its next update.