Desjardins Upgrades ; G&M This was in the G&M upgrades and thought I'd post it .
I'm considering buying this for income with an 8% yield.
In response to a surge in chemical prices, Desjardins Securities analyst David Newman upgraded Chemtrade Logistics Income Fund (CHE.UN-T) on Wednesday.
“We are moving to a Buy (from Hold) despite some near-term challenges (impact of the Vale strike, transitory margin pressure on water solutions) given the strong rally in chlor-alkali (caustic soda and HCl/chlorine) and sulphuric acid prices, rising industrial production, increasing refinery utilization rates and secular tailwinds in the semiconductor market,” he said.
Maintaining his third-quarter financial projections, which fall in line with the Street’s view, Mr. Newman raised his target from Chemtrade units to $10 from $8. The average target is $8.93.