TSX:CHE.DB.E - Post by User
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SuperMon May 16, 2024 9:38am
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Post# 36043125
From G & Mail this AM
From G & Mail this AM In response to a “strong” first-quarter beat, Desjardins Securities’ Gary Ho increased his Chemtrade Logistics Income Fund (
) target to $13 from $12.50 with a “buy” rating. The average is $12.07.
“Management now expects 2024 EBITDA at the higher end of its $395–435-million guidance, offset by no new update on the Arizona UPA project (still on hold),” he said. “We raised our 2024 and 2025 estimates. We are encouraged by CHE’s intention to buy back stock, but we will need additional clarity on its M&A ambitions (targeting $10–50-million EBITDA candidates). We prefer share repurchases given the current attractive valuation.”
GLTA
SM