TSX:CHE.DB.E - Post by User
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TeamCommonSenseon Oct 17, 2024 12:22pm
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Post# 36270136
Analyst update
Analyst update * Desjardins Securities’ Gary Ho raised his Chemtrade Logistics Income Fund (CHE.UN-T) target to $14 from $13.25 with a “buy” rating. The average is $12.86.
“In 3Q, chemicals continued to perform well, with strength in HCl, regen acid and water treatment,” he said. “We increased our 3Q estimates and expect 2024 EBITDA of $448-milllion vs guidance of $430–460-million. We also increased our 2025 estimates and are introducing our 2026 numbers. Continued strong chemicals performance, active buybacks, potential index inclusion and valuation marks from recent acquisitions in the industry should support the shares.”