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

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its target price hoisted by analysts at BMO Capital Markets from C$15.00 to C$20.00 in a report issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 30.98% from the company’s previous close.

Other research analysts have also issued reports about the stock. Scotiabank raised shares of Chemtrade Logistics Income Fund from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$13.50 to C$15.00 in a research note on Friday, August 15th. Desjardins increased their target price on shares of Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the company a “buy” rating in a research report on Monday, August 18th. Royal Bank Of Canada upped their price target on shares of Chemtrade Logistics Income Fund from C$14.00 to C$18.00 in a research note on Thursday. Finally, Raymond James Financial upgraded shares of Chemtrade Logistics Income Fund from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from C$16.00 to C$21.00 in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$17.07.

Chemtrade Logistics Income Fund Stock Performance

TSE:CHE.UN traded up C$0.09 during midday trading on Thursday, reaching C$15.27. 280,263 shares of the company traded hands, compared to its average volume of 263,704. The firm has a market capitalization of C$1.72 billion, a price-to-earnings ratio of 14.27 and a beta of 1.31. The company has a fifty day moving average price of C$13.35 and a 200 day moving average price of C$11.97. The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.48. Chemtrade Logistics Income Fund has a twelve month low of C$8.50 and a twelve month high of C$15.57.

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.