Royal Bank Of Canada Forecasts Strong Price Appreciation for Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its price target raised by investment analysts at Royal Bank Of Canada from C$18.00 to C$20.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 17.65% from the stock’s current price.

Several other brokerages have also issued reports on CHE.UN. Raymond James Financial raised shares of Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from C$15.00 to C$21.00 in a report on Tuesday, April 28th. BMO Capital Markets raised shares of Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and set a C$18.50 price objective on the stock in a report on Thursday, April 23rd. Finally, National Bank Financial boosted their price objective on shares of Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the company an “outperform” rating in a report on Monday, April 13th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$19.29.

Chemtrade Logistics Income Fund Trading Up 2.5%

Shares of Chemtrade Logistics Income Fund stock traded up C$0.41 on Wednesday, hitting C$17.00. 333,986 shares of the company traded hands, compared to its average volume of 397,988. The stock’s 50 day moving average price is C$15.98 and its 200-day moving average price is C$15.20. The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02. Chemtrade Logistics Income Fund has a 52 week low of C$10.61 and a 52 week high of C$18.43. The company has a market cap of C$1.91 billion, a PE ratio of 13.93 and a beta of 0.65.

About Chemtrade Logistics Income Fund

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.