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Westshore Terminals Investment Corp T.WTE

Alternate Symbol(s):  WTSHF

Westshore Terminals Investment Corporation is a Canada-based company, which owns all of the limited partnership units of Westshore Terminals Limited Partnership (Westshore). The Company invests in Westshore by way of distributions on Westshore's limited partnership units. Westshore operates a coal storage and unloading/loading facility at Roberts Bank, British Columbia. Westshore receives handling charges from its customers for throughput volume. Coal is delivered to the Terminal in unit trains operated by Canadian Pacific Railway, BNSF Railway, and Canadian National Railway. The product is unloaded and either directly loaded onto a ship or stockpiled for future ship loading. The loaded ships are then destined around the globe to approximately 20 different countries. Westar Management Ltd. (the Manager) provides management services to Westshore and administrative services to the Company. The manager also provides insurance and vehicle leasing services to the Company.


TSX:WTE - Post by User

Post by Jenseron Oct 07, 2021 3:40pm
239 Views
Post# 33983631

RBC upgrade today from $41 to $43

RBC upgrade today from $41 to $43Westshore 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.
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