Chemtrade Logistics Income Fund (TSE:CHE.UN) Raised to Outperform at Raymond James Financial

Key Points

• Raymond James upgraded Chemtrade Logistics Income Fund to "outperform" and raised its price target to C$21.00 (from C$15.00), implying about a 25.22% upside from the prior close.
• Other analysts including BMO and National Bank also moved to outperform or raised targets; the consensus is a "Moderate Buy" with an average price target of C$19.00 (four Buys, two Holds).
• CHE.UN traded at C$16.77 (+0.8%) with a market cap of C$1.88B, a P/E of 13.75, and a high leverage profile (debt-to-equity ~128.02), trading in a 1‑year range of C$9.35–C$17.96.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) was upgraded by equities research analysts at Raymond James Financial from a "market perform" rating to an "outperform" rating in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has a C$21.00 price target on the stock, up from their previous price target of C$15.00. Raymond James Financial's price target would suggest a potential upside of 25.22% from the stock's previous close.

Other analysts have also recently issued reports about the stock. BMO Capital Markets upgraded shares of Chemtrade Logistics Income Fund from a "market perform" rating to an "outperform" rating and set a C$18.50 target price for the company in a research note on Thursday, April 23rd. National Bank Financial lifted their target price on shares of Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the company an "outperform" rating in a research note on Monday, April 13th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of C$19.00.

Chemtrade Logistics Income Fund Stock Up 0.8%

Shares of CHE.UN traded up C$0.13 during trading hours on Tuesday, reaching C$16.77. The company's stock had a trading volume of 381,113 shares, compared to its average volume of 385,965. The firm has a market cap of C$1.88 billion, a price-to-earnings ratio of 13.75 and a beta of 0.56. Chemtrade Logistics Income Fund has a 1-year low of C$9.35 and a 1-year high of C$17.96. The company has a quick ratio of 0.48, a current ratio of 0.40 and a debt-to-equity ratio of 128.02. The company has a 50 day moving average of C$15.73 and a two-hundred day moving average of C$14.95.

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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