Chemtrade Logistics Income Fund (TSE:CHE.UN) Price Target Raised to C$23.50 at National Bank Financial

Key Points

• National Bank Financial raised its price target on Chemtrade to C$23.50 (from C$18.00) and kept an "outperform" rating, implying roughly a 33% upside from the prior close.
• BMO trimmed its target to C$18.50 but also rates the stock "outperform"; the analyst consensus is a Moderate Buy with an average target of C$19.00.
• Shares climbed 3.6% to C$17.65 on higher-than-average volume; the stock has a market cap of C$1.98 billion and a PE ratio of 14.47.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) had its price objective hoisted by equities research analysts at National Bank Financial from C$18.00 to C$23.50 in a research note issued on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's price target would indicate a potential upside of 33.14% from the stock's previous close.

Separately, BMO Capital Markets reduced their target price on shares of Chemtrade Logistics Income Fund from C$20.00 to C$18.50 and set an "outperform" rating for the company in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$19.00.

Chemtrade Logistics Income Fund Stock Up 3.6%

TSE CHE.UN traded up C$0.61 during trading on Monday, reaching C$17.65. The company's stock had a trading volume of 538,431 shares, compared to its average volume of 319,187. The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02. The stock has a market capitalization of C$1.98 billion, a PE ratio of 14.47 and a beta of 0.56. The business has a 50-day moving average price of C$15.80 and a 200-day moving average price of C$14.77. Chemtrade Logistics Income Fund has a 1-year low of C$9.14 and a 1-year high of C$17.96.

Chemtrade Logistics Income Fund Company Profile

Chemtrade Logistics Income Fund provides industrial chemicals and services to customers in North America and around the world. The company organized into four main operating segments: Sulphur Products and Performance Chemicals (SPPC), Water Solutions and Specialty Chemicals (WSSC), Electrochemicals, and Corporate. It generates maximum revenue from Electrochemicals segment. Chemtrade operates in Canada, the United States, and South America of which maximum revenue comes from the United States. SPPC markets, remove and produces merchant, regenerated and ultra-pure sulphuric acid, liquid sulphur dioxide, sodium hydrosulfite and provides other processing services.

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