Scotiabank Upgrades Chemtrade Logistics Income Fund (TSE:CHE.UN) to Outperform

Key Points

• Scotiabank upgraded Chemtrade Logistics Income Fund from a "sector perform" to an "outperform" rating, with a new target price set at C$15.00, indicating a potential upside of 22.45%.
• Other firms such as Raymond James and Desjardins have also raised their targets for Chemtrade, with most analysts rating the stock as a "Moderate Buy."
• As of Friday, Chemtrade's stock traded at C$12.25, reflecting a trading volume significantly higher than its average, and the company has a market cap of C$1.43 billion.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) was upgraded by Scotiabank from a "sector perform" rating to an "outperform" rating in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a C$15.00 target price on the stock, up from their prior target price of C$13.50. Scotiabank's price target indicates a potential upside of 22.45% from the stock's current price.

Several other research firms have also issued reports on CHE.UN. Raymond James Financial raised their price target on shares of Chemtrade Logistics Income Fund from C$14.00 to C$15.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Desjardins lifted their target price on shares of Chemtrade Logistics Income Fund from C$15.00 to C$15.50 and gave the company a "buy" rating in a research report on Thursday, May 22nd. CIBC lifted their target price on shares of 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. Finally, National Bankshares lifted their target price on shares of 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$15.00.

Chemtrade Logistics Income Fund Stock Performance

TSE CHE.UN traded up C$1.13 during midday trading on Friday, hitting C$12.25. The company had a trading volume of 1,153,205 shares, compared to its average volume of 260,476. 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 stock has a market cap of C$1.43 billion, a price-to-earnings ratio of 11.14 and a beta of 1.50. The firm has a fifty day simple moving average of C$11.15 and a two-hundred day simple moving average of C$10.38. Chemtrade Logistics Income Fund has a fifty-two week low of C$8.50 and a fifty-two week high of C$12.29.

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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