Chemtrade Logistics Income Fund (TSE:CHE.UN) Upgraded at BMO Capital Markets

Key Points

• BMO Capital Markets upgraded Chemtrade from "market perform" to "outperform" with a C$18.50 target, implying roughly a 14.7% upside from the recent close.
• Analyst views are mixed: Raymond James cut its rating and target to C$15 while National Bank raised its target to C$23.50 and kept an outperform; the consensus is a "Moderate Buy" with an average target of C$18.14.
• CHE.UN traded around C$16.13 (market cap C$1.81B) with a P/E of 13.22, but the company shows high leverage (debt-to-equity ~128) and weak liquidity (current ratio ~0.40), signaling financial risk despite valuation support.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) was upgraded by stock analysts at BMO Capital Markets from a "market perform" rating to an "outperform" rating in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a C$18.50 target price on the stock. BMO Capital Markets' price target indicates a potential upside of 14.69% from the stock's previous close.

Several other analysts have also recently issued reports on CHE.UN. Raymond James Financial cut Chemtrade Logistics Income Fund from a "strong-buy" rating to a "market perform" rating and cut their target price for the stock from C$21.00 to C$15.00 in a research report on Tuesday, April 14th. National Bank Financial increased their target price on Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the stock an "outperform" rating in a research report on Monday, April 13th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$18.14.

Chemtrade Logistics Income Fund Stock Performance

CHE.UN traded up C$0.48 during midday trading on Thursday, reaching C$16.13. The company had a trading volume of 363,617 shares, compared to its average volume of 386,835. 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 business has a 50-day moving average of C$15.72 and a two-hundred day moving average of C$14.88. The company has a market cap of C$1.81 billion, a P/E ratio of 13.22 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.

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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