scotia view
Tidewater Midstream and Infrastructure Ltd. (TWM-V; C$1.32; SO) Executing on Attractive Opportunities
OUR TAKE: Tidewater reported a slightly better than anticipated Q1/17, with adjusted EBITDA of $14.4m beating our $13.6m and consensus of $13.5m. We view this as another solid quarter and look favourably upon the progress that the company is making on its capital plan that will continue to drive very strong EBITDA growth. In addition, Tidewater continues to find accretive acquisition and development opportunities. We maintain our $2.00 target price and Sector Outperform rating.