 GFL Environment said Spruce Points claims regarding the companys management and business practices are misleading, adding that they constitute false statements. The waste management companys shares are advancing 2.6 in pre-market trading on Wednesday, following their 8.2 drop on Tuesday.On Aug. 18, short seller Spruce Point issued a report on GFL Environment GFL, stating that without access to new capital, the companys shares are worthless and likely uninvestable for institutional investors. In addition, the report claimed that GFLs depiction of its debt is understated by at least C460 million. It also contained allegations that its CEO Patrick Dovigi has questionable business connections.In response, GFLs CEO said that the report contains numerous inaccuracies and mischaracterizations. Dovigi added that the allegations are solely intended to benefit Spruce Point, who has disclosed that it stands to profit significantly in the event that the stock price of GFL declines.Meanwhile, Goldman Sachs analyst Brian MaGuire upgraded GFL to Buy from Hold and lifted the price target to 24 23.2 upside potential from 21. The analyst is optimistic that GFL continues to successfully execute its roll-up strategy through multiple acquisitions completed since its IPO, and its earnings have proven more recession-resilient than expected.Currently, the Street has a bullish outlook on the stock. The Strong Buy analyst consensus is based on 8 Buys and 1 Hold. The average price target of 25.60 implies upside potential of about 31.4. See GFL stock analysis on TipRanks.Related News: D.A. Davidson Lifts Palo Altos PT Ahead Of 4Q Results Next Week Needham Lifts Fabrinets PT After 4Q Earnings Beat Mizuho Cuts Microns PT On Weak Enterprise Demand More recent articles from Smarter Analyst: TJX Shares Drop 7 After Bigger 2Q Loss Target Spikes 12 As Digital Sales Drive Blowout Quarter Jack Henry Shares Dip On Lower FY21 Guidance KBR To Buy Space Contractor Centauri For 800M; Shares Pop 6 