CIBC Forecasts Strong Price Appreciation for Tidewater Renewables (TSE:LCFS) Stock

Tidewater Renewables (TSE:LCFS) had its price target hoisted by research analysts at CIBC from C$3.00 to C$3.25 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s target price suggests a potential downside of 2.99% from the stock’s previous close.

Several other equities research analysts have also weighed in on LCFS. Acumen Capital raised their price objective on Tidewater Renewables from C$2.25 to C$3.50 and gave the stock a “hold” rating in a research note on Friday. ATB Capital increased their price target on Tidewater Renewables from C$3.00 to C$4.00 and gave the company a “speculative buy” rating in a research report on Friday. Finally, Royal Bank of Canada lifted their price target on Tidewater Renewables from C$5.00 to C$5.50 and gave the stock a “sector perform” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$4.79.

Tidewater Renewables Price Performance

LCFS stock traded up C$0.26 on Friday, hitting C$3.35. 44,663 shares of the company’s stock traded hands, compared to its average volume of 58,295. The stock has a market cap of C$116.64 million, a price-to-earnings ratio of -0.31 and a beta of 1.36. Tidewater Renewables has a 1-year low of C$0.58 and a 1-year high of C$9.00. The company has a current ratio of 1.15, a quick ratio of 0.10 and a debt-to-equity ratio of 114.04. The stock has a fifty day moving average of C$1.38 and a 200-day moving average of C$1.43.

About Tidewater Renewables

Tidewater Renewables Ltd has been formed to become a multi-faceted, energy transition company. It is focused on the production of low carbon fuels, including renewable diesel, renewable hydrogen and renewable natural gas, as well as carbon capture. The corporation generates revenue from the sale of renewable products.