TSX:CHE.DB.E - Post by User
Comment by
incomedreamer11on Jan 27, 2022 8:48am
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Post# 34365932
RE:WHAT IS HOLDING THIS STOCK BACK.?
RE:WHAT IS HOLDING THIS STOCK BACK.? In response to Wednesday’s post-market announcement of its 2022 guidance, Desjardins Securities analyst David Newman cut his Chemtrade Logistics Income Fund (CHE.UN-T) target to $9.50 from $10 with a “buy” rating, while Raymond James’ Steve Hansen lowered his target by $1 to $11 with an “outperform” recommendation and BMO’s Joel Jackson trimmed his target to $7.50 from $8 with a “market perform” rating. The average is $9.64
“CHE released lower-than-expected 2022 EBITDA guidance of $265–295-million vs our estimate of $293-million (was $317-million) and consensus of $308-million, driven by: (1) a higher-than-expected impact of the three-week turnaround at North Vancouver (chlor-alkali) in 2Q22 (negative $11-million on EBITDA); (2) flat year-over-year sodium chlorate production of 365kMT, likely given the lingering COVID-19 impact on paper demand (work-from-home/hybrid); and (3) persistent raw material headwinds (aluminum and sulphuric acid) in WSSC,” Mr. Newman said.