Tidewater Renewables (TSE:LCFS) Price Target Raised to C$21.00

Key Points

• ATB Cormark raised Tidewater Renewables’ price target to C$21.00 from C$19.00 while maintaining a “speculative buy” rating. The new target implies approximately 1.65% upside from the reported C$20.66 share price.
• Analyst sentiment is broadly positive: National Bank Financial and RBC also raised their targets, with RBC upgrading the stock to “outperform.” Three analysts rate Tidewater Renewables a Buy, and the consensus target is C$22.92.
• The shares declined 0.9% in Friday trading, while the company reported quarterly revenue of C$160.60 million and earnings of C$0.13 per share. Tidewater Renewables focuses on producing low-carbon fuels, including renewable diesel and sustainable aviation fuel.

Tidewater Renewables (TSE:LCFS - Get Free Report) had its price target hoisted by equities researchers at ATB Cormark Capital Markets from C$19.00 to C$21.00 in a research note issued to investors on Friday, BayStreet reports. The brokerage currently has a "speculative buy" rating on the stock. ATB Cormark Capital Markets's price objective would suggest a potential upside of 1.65% from the company's current price.

LCFS has been the subject of a number of other reports. National Bank Financial boosted their price objective on shares of Tidewater Renewables from C$13.25 to C$22.75 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Royal Bank Of Canada upgraded shares of Tidewater Renewables from a "sector perform" rating to an "outperform" rating and raised their target price for the company from C$12.50 to C$25.00 in a research note on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Tidewater Renewables presently has an average rating of "Buy" and a consensus target price of C$22.92.

Tidewater Renewables Stock Down 0.9%

Shares of TSE LCFS traded down C$0.19 during mid-day trading on Friday, reaching C$20.66. 14,109 shares of the company traded hands, compared to its average volume of 22,242. The company's fifty day moving average is C$21.12 and its two-hundred day moving average is C$15.41. The company has a debt-to-equity ratio of 109.35, a quick ratio of 0.10 and a current ratio of 1.13. Tidewater Renewables has a fifty-two week low of C$3.39 and a fifty-two week high of C$25.80. The stock has a market cap of C$754.83 million, a PE ratio of 94.05 and a beta of -1.03.

Tidewater Renewables (TSE:LCFS - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported C$0.13 earnings per share for the quarter. Tidewater Renewables had a return on equity of 0.20% and a net margin of 0.09%. The firm had revenue of C$160.60 million during the quarter. On average, analysts expect that Tidewater Renewables will post 0.15 earnings per share for the current year.

About Tidewater Renewables

Tidewater Renewables is a multi-faceted, energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel and sustainable aviation fuel. The Corporation was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as canola oil, soybean oil, used cooking oil, distillers corn oil, tallow, and other biomasses) into low carbon fuels.

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