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Chemtrade Logistics Income 6 50 Convertible Unsecured Subordinated Debentures T.CHE.DB.F


Primary Symbol: T.CHE.DB.E Alternate Symbol(s):  T.CHE.DB.G | CGIFF | T.CHE.DB.H | T.CHE.UN

Chemtrade Logistics Income Fund is a Canada-based company that operates a diversified business providing industrial chemicals and services to customers in North America and around the world. The Company's segments include Sulphur and Water Chemicals (SWC), and Electrochemicals (EC). SWC segment markets, removes and/or produces merchant, Regen and sulphuric acid, sodium hydrosulphite, elemental sulphur, liquid sulphur dioxide, hydrogen sulphide, sodium bisulphite, and sulphides, and provides other processing services. This segment also manufactures and markets a variety of inorganic coagulants used in water treatment, including aluminum sulphate, and a number of specialty chemicals, including sodium nitrite. EC segment manufactures and markets sodium chlorate and chlor-alkali products including caustic soda, chlorine and HCl, largely for the pulp and paper, oil and gas and water treatment industries. These products are marketed primarily to North American and South American customers.


TSX:CHE.DB.E - Post by User

Comment by Aurum1983on Jul 26, 2023 1:45pm
233 Views
Post# 35558056

RE:RE:Why rising?

RE:RE:Why rising?Scotia research from Jun 26/23:

OUR TAKE: Positive. We expect to see a relief rally in CHE near-term, as investors should applaud management’s decision to place the Casa Grade JV on hold. Why? Simply put, the math no longer worked, as soaring capex put both project returns and B/S leverage into question. Separately, the Cairo, OH project remains on time/budget, while better-than-expected chlor-alkali economics should see the Street raising ‘23 EBITDA estimates by 5% to 7%.


A 25% rally is expected at a conservative 5.5x PE. That would take us above $10. And not to mention the balance sheet and forecast continue to improve. 10x PE would take us above $12. This would actually be consistent with the TP estimate in the last 3 months ranging from $11 to $13 with an average of $12.17.

This is extremely undervalue even without the dividend. I shouldn't even be commenting here as I am still trying to buy more. 
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