Scotia Forecasts Strong Price Appreciation for Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its price objective raised by research analysts at Scotia from C$17.00 to C$19.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotia’s price objective suggests a potential upside of 12.63% from the stock’s previous close.

CHE.UN has been the topic of several other research reports. Royal Bank Of Canada upped their target price on Chemtrade Logistics Income Fund from C$18.00 to C$20.00 and gave the company an “outperform” rating in a research report on Wednesday. Raymond James Financial upgraded Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and upped their target price for the company from C$15.00 to C$21.00 in a research report on Tuesday, April 28th. National Bank Financial upped their target price on Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the company an “outperform” rating in a research report on Monday, April 13th. Finally, BMO Capital Markets upgraded Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and set a C$18.50 target price on the stock in a research report on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Chemtrade Logistics Income Fund currently has a consensus rating of “Moderate Buy” and an average price target of C$19.25.

Chemtrade Logistics Income Fund Price Performance

Shares of CHE.UN opened at C$16.87 on Thursday. Chemtrade Logistics Income Fund has a 12-month low of C$10.95 and a 12-month high of C$18.43. The business has a 50-day simple moving average of C$16.08 and a two-hundred day simple moving average of C$15.26. 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$1.88 billion, a PE ratio of 16.38 and a beta of 0.65.

Chemtrade Logistics Income Fund Company Profile

Chemtrade Logistics Income Fund provides industrial chemicals and services to customers in North America and around the world. The company organized into four main operating segments: Sulphur Products and Performance Chemicals (SPPC), Water Solutions and Specialty Chemicals (WSSC), Electrochemicals, and Corporate. It generates maximum revenue from Electrochemicals segment. Chemtrade operates in Canada, the United States, and South America of which maximum revenue comes from the United States. SPPC markets, remove and produces merchant, regenerated and ultra-pure sulphuric acid, liquid sulphur dioxide, sodium hydrosulfite and provides other processing services.