09:39:52 EDT Mon 06 May 2024
Enter Symbol
or Name
USA
CA



Tidewater Midstream and Infrastructure Ltd
Symbol TWM
Shares Issued 425,015,669
Close 2023-08-29 C$ 0.98
Market Cap C$ 416,515,356
Recent Sedar Documents

Globe says Tidewater Midstream kept at "outperform'"

2023-08-30 07:39 ET - In the News

The Globe and Mail reports in its Wednesday edition that Credit Suisse analyst Andrew Kuske is keeping his "outperform" call on Tidewater Midstream and Infrastructure intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kuske cut his share target by 10 cents to $1.20. Analysts on average target the shares at $1.28. Mr. Kuske says in a note: "Tidewater is continuing an asset review process as per past disclosures that looks to be a potentially favourable catalyst before the end of 2023. Needless to write, TWM and the related Tidewater Renewables Ltd. (LCFS) affiliate struggled for market performance and possibly broader acceptance. From our perspective, the asset base is individually interesting and value oriented; however, challenges exist in a smaller cap stock -- especially with some of the company specific issues. On balance, the strategic review came at the time of a past management shift and, more importantly, the verge of greater basin volumetric growth and directional clarity. Naturally, interest rates, debt levels and some capex issues along with a few other factors were (and are) headwinds. Yet, timing and some value fundamentals look to favour TWM exposure, in our view."

© 2024 Canjex Publishing Ltd. All rights reserved.