Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Price Expected to Rise, Desjardins Analyst Says

Key Points

• Desjardins increased Chemtrade Logistics Income Fund's target price from C$15.50 to C$16.00, signaling a potential upside of 25.39% from the current stock price.
• Three other brokerages also raised their target prices for the stock, with National Bankshares setting a new target of C$17.00 and an "outperform" rating.
• The stock currently has a "Moderate Buy" average rating with a consensus price target of C$15.25 from analysts.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) had its target price hoisted by equities researchers at Desjardins from C$15.50 to C$16.00 in a research report issued on Monday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Desjardins' price target would indicate a potential upside of 25.39% from the stock's current price.

A number of other brokerages have also issued reports on CHE.UN. National Bankshares increased their target price on Chemtrade Logistics Income Fund from C$16.50 to C$17.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Raymond James Financial increased their target price on Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a research report on Monday. Scotiabank upgraded Chemtrade Logistics Income Fund from a "sector perform" rating to an "outperform" rating and increased their target price for the company from C$13.50 to C$15.00 in a research report on Friday. Finally, CIBC increased their target price on Chemtrade Logistics Income Fund from C$10.50 to C$12.50 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$15.25.

Chemtrade Logistics Income Fund Stock Performance

Chemtrade Logistics Income Fund stock traded up C$0.52 during mid-day trading on Monday, hitting C$12.76. The company had a trading volume of 604,430 shares, compared to its average volume of 264,491. The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02. Chemtrade Logistics Income Fund has a 12-month low of C$8.50 and a 12-month high of C$12.86. The company's fifty day moving average is C$11.18 and its 200-day moving average is C$10.39. The company has a market capitalization of C$1.49 billion, a price-to-earnings ratio of 11.60 and a beta of 1.50.

About Chemtrade Logistics Income Fund

Chemtrade Logistics Income Fund provides industrial chemicals and services in Canada, the United States, and South America. It operates through Sulphur Products & Performance Chemicals (SPPC), Water Solutions & Specialty Chemicals (WSSC), and Electrochemicals (EC) segments. The SPPC segment removes and/or produces merchant, regenerated, and ultra pure sulphuric acid, sodium hydrosulphite, elemental sulphur, liquid sulphur dioxide, hydrogen sulphide, sodium bisulphite, and sulphides.

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