TSX:SES - Post Discussion
Post by
retiredcf on Oct 04, 2021 8:04am
iA Capital
In his weekly research note on TSX-listed energy infrastructure companies, IA Capital Markets analyst Elias Foscolos made a pair of ratings changes. Citing its elevated related risk profile, he lowered Secure Energy Services Inc. ) to “speculative buy” from “buy” after a change to his coverage universe. He maintained a target price of $6.50, which falls below the current average target of $6.73.
“With the pending privatization of Inter Pipeline by Brookfield Infrastructure Partners L.P. we have elected to discontinue coverage,” said Mr. Foscolos. “This, among other events, has led us to reclassify Secure Energy Services as a Midstream comparable as its merger with Tervita has positioned the Company as a more direct comparison to Midstreamers as opposed to Energy Services. ALA’s business resilience and utility concentration highlighted by its dividend increase last year have motivated us to formally reclassify it as a utility.”
He added: “For risk-tolerant investors, SES provides significant potential upside.”
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