Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Rating Upgraded by Scotiabank

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 equities researchers at Scotiabank from a "sector perform" rating to an "outperform" rating in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a C$15.00 price target on the stock, up from their previous price target of C$13.50. Scotiabank's price target suggests a potential upside of 16.28% from the company's current price.

A number of other research analysts have also weighed in on the company. Desjardins upped their price objective on Chemtrade Logistics Income Fund from C$15.00 to C$15.50 and gave the stock a "buy" rating in a report on Thursday, May 22nd. CIBC upped their price objective 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. National Bankshares upped their price objective 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. Finally, Raymond James Financial increased their target price on 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. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$15.25.

Chemtrade Logistics Income Fund Stock Performance

Shares of TSE:CHE.UN traded up C$0.16 during trading on Friday, reaching C$12.90. The company had a trading volume of 362,189 shares, compared to its average volume of 268,278. The firm has a market capitalization of C$1.50 billion, a price-to-earnings ratio of 11.73 and a beta of 1.50. 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's fifty day moving average price is C$11.28 and its 200 day moving average price is C$10.44. Chemtrade Logistics Income Fund has a fifty-two week low of C$8.50 and a fifty-two week high of C$13.05.

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.