GFL Environmental (GFL) ran 5% Monday after relocating its headquarters to Miami, a move that aligns with its business mix and could signal where management is looking to deploy M&A capital next.

The new HQ could also help close the remaining valuation gap to its U.S. peers, given it makes GFL eligible for additional index inclusion…

… but a sustained re-rate will likely require its leverage profile to close the gap too.

You might be interested in…

Disclaimer: Content on this site, including research reports, is provided by Bullpen Finance Inc. for informational purposes only and does not constitute investment advice. Bullpen Finance Inc. receives compensation from issuers for research coverage; such compensation does not influence opinions expressed. For complete disclosures, please see our Legal & Disclosures section.