RBC Capital Markets raised its price target on Tidewater Renewables Ltd. (LCFS.TO) to $5.50 from $5.
Analyst Maurice Choy maintained a Sector Perform rating on shares of the Calgary-based renewable fuel company.
"While we expect the market will continue to take a wait-and-see approach, we like the recent steps taken by Tidewater Renewables relating to the sale of its stake in Rimrock RNG sale and the filing of the countervailing (anti-subsidy) and anti-dumping complaint that is aimed at improving its financial and business risk profiles," Choy said in a note to clients.
"We believe stock sentiment should improve if/when more self-help actions are taken, BC LCFS credit pricing sustainably recovers (note, December 2024 data has been encouraging), and favourable regulatory/policy outcomes materialize," the analyst said.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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