03:08:04 EDT Sun 09 May 2021
Enter Symbol
or Name

Login ID:
Chemtrade Logistics Income Fund
Symbol CHE
Shares Issued 92,868,697
Close 2021-01-15 C$ 6.99
Recent Sedar Documents

Globe says Hansen keen on Chemtrade Logistics Income

2021-01-18 08:57 ET - In the News

The Globe and Mail reports in its Saturday, Jan. 15, edition that Raymond James analyst Steve Hansen boosted Chemtrade Logistics Income Fund ($6.99) to "outperform" from "market perform" on Friday. The Globe's David Leeder writes that Mr. Hansen still targets the shares at $9. Analysts on average target the shares at $7.03. Mr. Hansen says in a note: "We foresee a number of incremental tailwinds emerging in 2021 that bode well for Chemtrade's earnings profile, including: 1) an improving North American economy; 2) rising sulphuric acid prices; 3) a modest lift/recovery in NE Asian caustic prices; 4) improving HCL demand/prices in tandem with higher oil prices and E&P activity; and 5) improved operating performance. Collectively, we expect these shifting dynamics to underpin a healthy EBITDA recovery in 2021. ... Chemtrade still trades at a discounted valuation vs. its historical average, a discount that we expect will gradually erode. ... While the company continues to carry an above-average leverage profile, it has no near-term maturities and plenty of room on its existing covenants to provide time for an earnings recovery. Coupled with the total return opportunity described, we are upgrading."

© 2021 Canjex Publishing Ltd. All rights reserved.