Wunderlich Reaffirms Buy on Clean Harbors

Wunderlich is out with its report today on Clean Harbors (NYSE: CLH), maintaining Buy.

In a note to clients, Wunderlich writes, "Summary We reaffirm our Buy rating and price target of $112 on shares of Clean Harbors, Inc. The Environmental group is characterized by high fixed costs – thus lots of operating leverage. Extended cold weather in Canada helped boost Energy & Industrial revenues, resulting in a strong 1Q11 and increased FY11 guidance. The guidance raise only reflected the strong 1Q results not the carry forward of the improving fundamentals of both the Environmental and Energy groups. The Peak Energy deal alone should lead to an increase in guidance. Add to that incremental project work and better than 5% growth in the Environmental group and FY11 guidance post 2Q11 results should rise further."

Shares of CLH closed Thursday at $99, up 1.13% from Wednesday's close.