National Bank Financial Issues Positive Forecast for Tidewater Renewables (TSE:LCFS) Stock Price

Key Points

• National Bank Financial raised its price target on Tidewater Renewables from C$8.00 to C$13.25, while keeping a sector perform rating on the stock.
• Other analysts also turned more positive: RBC increased its target to C$12.50 and ATB Cormark lifted its target to C$12.00, leaving the consensus rating at Hold with an average target of C$12.58.
• The stock traded lower on the day at C$10.51 despite the upgrades, and Tidewater Renewables continues to focus on producing low-carbon fuels such as renewable diesel and sustainable aviation fuel.

Tidewater Renewables (TSE:LCFS - Get Free Report) had its price target increased by equities research analysts at National Bank Financial from C$8.00 to C$13.25 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. National Bank Financial's price objective points to a potential upside of 26.07% from the company's previous close.

Other analysts have also recently issued reports about the company. Royal Bank Of Canada boosted their price objective on Tidewater Renewables from C$7.50 to C$12.50 and gave the company a "sector perform" rating in a research report on Friday. ATB Cormark Capital Markets lifted their price target on shares of Tidewater Renewables from C$8.00 to C$12.00 and gave the stock a "speculative buy" rating in a research note on Friday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Tidewater Renewables currently has a consensus rating of "Hold" and an average price target of C$12.58.

Tidewater Renewables Stock Performance

Tidewater Renewables stock traded down C$0.18 during trading hours on Friday, hitting C$10.51. The stock had a trading volume of 55,456 shares, compared to its average volume of 14,253. The company has a 50-day moving average of C$7.64 and a two-hundred day moving average of C$5.41. The company has a quick ratio of 0.10, a current ratio of 1.38 and a debt-to-equity ratio of 128.35. Tidewater Renewables has a fifty-two week low of C$2.14 and a fifty-two week high of C$11.95. The company has a market cap of C$383.48 million, a PE ratio of 116.78 and a beta of -0.16.

Tidewater Renewables Company Profile

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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