Tidewater Renewables (TSE:LCFS) Price Target Raised to C$22.75 at National Bank Financial

Key Points

• National Bank Financial raised Tidewater Renewables’ price target to C$22.75 from C$13.25 and maintained an “outperform” rating, implying 11.46% upside from the prior close.
• Analyst sentiment is broadly positive: RBC upgraded the stock to “outperform” with a C$25 target, while the consensus rating is “Buy” with an average target of C$22.25.
• Tidewater Renewables shares rose 5.3% to C$20.41 during Friday trading. The company recently reported quarterly EPS of C$0.13 and revenue of C$160.6 million.

Tidewater Renewables (TSE:LCFS - Get Free Report) had its price target increased by analysts at National Bank Financial from C$13.25 to C$22.75 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's target price suggests a potential upside of 11.46% from the stock's previous close.

A number of other research analysts have also recently commented on LCFS. Royal Bank Of Canada upgraded shares of Tidewater Renewables from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from C$12.50 to C$25.00 in a report on Friday. ATB Cormark Capital Markets lifted their price objective on shares of Tidewater Renewables from C$8.00 to C$12.00 and gave the company a "speculative buy" rating in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of C$22.25.

Tidewater Renewables Trading Up 5.3%

Shares of TSE LCFS traded up C$1.02 during midday trading on Friday, hitting C$20.41. The company's stock had a trading volume of 20,311 shares, compared to its average volume of 20,807. The company has a current ratio of 1.13, a quick ratio of 0.10 and a debt-to-equity ratio of 120.55. The business's 50 day moving average is C$13.98 and its two-hundred day moving average is C$9.94. Tidewater Renewables has a 12-month low of C$2.71 and a 12-month high of C$20.64. The firm has a market cap of C$745.45 million, a P/E ratio of 92.77 and a beta of -0.43.

Tidewater Renewables (TSE:LCFS - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported C$0.13 EPS for the quarter. Tidewater Renewables had a return on equity of 5.00% and a net margin of 2.91%.The company had revenue of C$160.60 million for the quarter. As a group, equities research analysts expect that Tidewater Renewables will post 0.15 EPS for the current year.

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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