Raymond James Financial Forecasts Strong Price Appreciation for Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock

Key Points

• Raymond James Financial has upgraded Chemtrade Logistics Income Fund's price target from C$15.00 to C$16.00, indicating a potential upside of 25.39% from its last closing price.
• Other analysts have also raised their target prices, with Desjardins setting a target of C$15.50 and CIBC at C$12.50, reflecting a consensus rating of "Moderate Buy".
• Chemtrade's stock has recently traded around C$12.76 with a market cap of C$1.49 billion and a P/E ratio of 11.60.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) had its price objective upped by research analysts at Raymond James Financial from C$15.00 to C$16.00 in a research note issued to investors on Monday,BayStreet.CA reports. Raymond James Financial's price target indicates a potential upside of 25.39% from the stock's previous close.

Several other equities analysts have also recently commented on the company. Desjardins boosted their target price on Chemtrade Logistics Income Fund from C$15.00 to C$15.50 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. CIBC boosted their target price on Chemtrade Logistics Income Fund from C$10.50 to C$12.50 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Scotiabank upgraded Chemtrade Logistics Income Fund from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from C$13.50 to C$15.00 in a research report on Friday. Finally, National Bankshares upped their price objective on Chemtrade Logistics Income Fund from C$16.50 to C$17.00 and gave the stock an "outperform" rating in a 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$15.25.

Chemtrade Logistics Income Fund Price Performance

Shares of CHE.UN stock traded up C$0.52 on Monday, hitting C$12.76. 604,430 shares of the company's stock were exchanged, compared to its average volume of 264,491. Chemtrade Logistics Income Fund has a 12 month low of C$8.50 and a 12 month high of C$12.86. The company has a 50 day moving average of C$11.18 and a 200 day moving average of C$10.39. The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.48. The stock has a market cap of C$1.49 billion, a P/E 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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