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.
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