Tidewater Renewables (TSE:LCFS) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised Tidewater Renewables’ price target from C$7.50 to C$12.50, while keeping a sector perform rating. The new target implies about 18.9% upside from the prior close.
• ATB Cormark also increased its price objective on the stock, from C$5.00 to C$8.00, and assigned a speculative buy rating. Overall, MarketBeat shows a consensus Hold rating with a consensus target price of C$12.58.
• Despite the upbeat analyst moves, Tidewater Renewables’ shares were down 1.7% on Friday to C$10.51. The company’s stock has traded between C$2.14 and C$11.95 over the past year and carries high leverage with a debt-to-equity ratio of 128.35.

Tidewater Renewables (TSE:LCFS - Get Free Report) had its price target boosted by equities research analysts at Royal Bank Of Canada from C$7.50 to C$12.50 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 18.93% from the company's previous close.

Separately, ATB Cormark Capital Markets boosted their price objective on Tidewater Renewables from C$5.00 to C$8.00 and gave the company a "speculative buy" rating in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Tidewater Renewables currently has a consensus rating of "Hold" and a consensus target price of C$12.58.

Tidewater Renewables Trading Down 1.7%

Shares of TSE LCFS traded down C$0.18 during midday trading on Friday, reaching C$10.51. The company had a trading volume of 55,456 shares, compared to its average volume of 14,253. The stock has a market cap of C$383.48 million, a PE ratio of 116.78 and a beta of -0.16. Tidewater Renewables has a one year low of C$2.14 and a one year high of C$11.95. The firm's fifty day moving average price is C$7.64 and its 200-day moving average price is C$5.41. The company has a quick ratio of 0.10, a current ratio of 1.38 and a debt-to-equity ratio of 128.35.

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.