Tidewater Renewables (TSE:LCFS) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Key Points

• ATB Cormark Capital Markets raised Tidewater Renewables’ price target from C$8.00 to C$12.00 and maintained a “speculative buy” rating, implying about 14% upside from the current share price.
• Royal Bank of Canada also boosted its target on the stock, lifting it from C$7.50 to C$12.50 while keeping a “sector perform” rating. Overall analyst sentiment remains mixed, with a consensus Hold rating.
• The stock traded down 1.7% to C$10.51, but it remains well above its 50-day and 200-day moving averages. Tidewater Renewables focuses on producing low-carbon fuels such as renewable diesel and sustainable aviation fuel.

Tidewater Renewables (TSE:LCFS - Get Free Report) had its price objective raised by investment analysts at ATB Cormark Capital Markets from C$8.00 to C$12.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a "speculative buy" rating on the stock. ATB Cormark Capital Markets' price target would indicate a potential upside of 14.18% from the stock's current price.

Separately, Royal Bank Of Canada raised their target price on shares of Tidewater Renewables from C$7.50 to C$12.50 and gave the company a "sector perform" rating in a report on Friday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of C$12.58.

Tidewater Renewables Stock Down 1.7%

TSE LCFS traded down C$0.18 during trading hours on Friday, hitting C$10.51. 55,456 shares of the company were exchanged, compared to its average volume of 14,253. The company has a quick ratio of 0.10, a current ratio of 1.38 and a debt-to-equity ratio of 128.35. The firm has a market cap of C$383.48 million, a price-to-earnings ratio of 116.78 and a beta of -0.16. The company has a 50 day moving average of C$7.64 and a two-hundred day moving average of C$5.41. Tidewater Renewables has a 52-week low of C$2.14 and a 52-week high of C$11.95.

About Tidewater Renewables

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.