TSX:CHE.DB.E - Post by User
Comment by
Khersonon Mar 20, 2018 7:12pm
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Post# 27749994
RE:Raymondjames upgrades to "OUTPERFORM"
RE:Raymondjames upgrades to "OUTPERFORM"ohyahlives2 wrote:
The Globe and Mail reports in its Friday edition that Raymond James analyst Steve Hansen says Chemtrade Logistics Income Fund's ($16.87) operational issues are beginning to fade. The Globe's David Leeder writes in the Eye On Equities column that Mr. Hansen says for Chemtrade 2018 is "shaping up well." Although its fourth quarter 2017 financial results fell short of expectations, Mr. Hansen raised his rating to "outperform" from "market perform." His share target remains $20, which is 47 cents below the consensus. Mr. Hansen says in a note: "While acknowledging recent operational setbacks, we are upgrading our rating on Chemtrade based upon our view that: 1) the firm's lingering operational challenges are well understood (priced in), with the stock down 12.5 per cent since our Jan. 15, 2018, downgrade versus the S&P TSX Composite down 6 per cent, and 2) chlor-alkali industry fundamentals and broader macro conditions (U.S. GDP growth) remain demonstrably constructive." Elsewhere, Desjardins Securities analyst David Newman maintained a "buy" rating and $21.50 share target, despite lowering his 2018 and 2019 earnings before interest, taxes, depreciation and amortization and free-cash-flow projections slightly.
Underperforming bigtime! Kherson