Post by
rdwww on Dec 19, 2024 10:15am
$1.40 target
The Globe and Mail reports in its Thursday, Dec. 19, edition that Eight Capital's Jamie Somerville has started coverage on CVW Cleantech with a "buy" recommendation and a $1.40 share target. The Globe's David Leeder writes in the Eye On Equities column that Mr. Somerville says CVW has "a significant track record of execution and value creation." Mr. Somerville is currently the lone analyst covering CVW. Mr. Somerville says in a note: "We have a very positive view of CVW's management, board and chosen business strategy. We like the company's focus on providing royalty financing to companies focusing on cleantech within traditional industries, including oil and gas production, mining and agriculture, many of which have substantial waste-to-value projects. We view CVW's first royalty asset with Northstar Clean Technologies, acquired for $14-million in Q3/24, as a positive indication that management will be able to build a substantial portfolio of valuable royalty assets (and create value for CVW shareholders while doing so)." The analyst also likes CVW's ownership of its own technology, which focuses on the recovery of bitumen, solvents, critical minerals and water from oil sands froth treatment tailings