Post by
Jenser on Oct 07, 2021 3:40pm
RBC upgrade today from $41 to $43
Westshore Terminals Investment Corp. Our high conviction, non-consensus call with +80% upside Our view: We reiterate ahead of Q3 that WTE remains our #1 name in our coverage. We note that our call on WTE is high conviction and outright contrarian, reflecting our differentiated view on the competitive landscape and the long-term opportunity surrounding potash. Our target price of $43 is double that of current consensus targets, and implies a return to target of +77%. Our EBITDA estimates for 2023 are a full 70% above consensus, further reflecting our contrarian view. We reiterate WTE as a top idea; and we would be buyers of the shares at current levels.