EverGen Infrastructure Corp V.EVGN

Better Targets

[retiredcf]

Desjardins Securities analyst Brent Stadler cut his target for Vancouver-based EverGen Infrastructure Corp.  to $8 from $10.50 with a “buy” rating. Others making changes include: Echelon Capital’s Michael Mueller to $10 from $11.25 with a “speculative buy” rating and RBC’s Nelson Ng to $6 from $7 with an “outperform” rating. The average is $9.75.

“We have modelled expected expansion project delays, which reduces our 2023 estimates, and have also increased our cost of equity,” Mr. Stadler said. “As a result, we have reduced our target ... We continue to believe that the RNG space is exciting and that EVGN’s outlook is positive with a significant pipeline which could lead to explosive growth. We look forward to the update on the expansion projects expected in 2 months and additional M&A in 2022.”

[BCdude]

Thanks for these reports, Retiredcf. Is there a place the entire reports can be downloaded?

[retiredcf]

BCdude - The answer to your question would be No. These are snippets posted by the Globe & Mail but I believe that the only way you can access the full reports is to be a client of the firm that produces them. So in my case, I can post reports from TD, RBC and CIBC but that's it. You can also try google (ie. Desjardins report on EVGN) and every now and then you get lucky but in most cases,

[BarstoolSage]

Just added here to avg down...something I rarely do with my specs....but now in at 4.20 which I like better. Unlikely to add more ...at least for the time being

[retiredcf]

At this point, there is little interest amongst investors. The most significant sell is at $4.94 while there is a buy order in at $3.10  which is 3x the size of the $4.94 sale. In the middle we have bids/asks of a couple of hundred here and a thousand there. The SP will continue to meander (mostly downward) until the overall markets improve or there is a catalyst specific to EVGN. GLTA

[BarstoolSage]

Thank you for the trade data. IMO RNG is definitely going to be focused on as a "clean" energy source in the near future and expect that the company will add facilities using a combo of cash and their tiny float......