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FINWIRES

Chemtrade Logistics Upgraded to Outperform at RBC

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-- Chemtrade Logistics Income Fund (CHE-UN.TO) was upgraded to Outperform from Market Perform at Raymond James on Tuesday.

Analyst Steve Hansen raised his price target on shares of the Canadian chemical supplier and services company to $21 from $15.

Hansen said the upgrade reflects "increased confidence in the long-term viability of the company's North Vancouver chlor-alkali facility."

"While the recent rezoning setback was clearly unexpected, discussions with local stakeholders point to several credible pathways to a resolution - including political, regulatory, and operational alternatives," the analyst said in a note to clients.

"To this end, we view the risk of a forced shutdown as low," Hansen said. "That said, visibility on timing of any resolution remains limited."

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