Tidewater Midstream and Infrastructure Ltd. (TSE:TWM – Get Free Report)’s stock price reached a new 52-week low during trading on Friday after ATB Capital lowered their price target on the stock from C$1.10 to C$0.80. The stock traded as low as C$0.28 and last traded at C$0.29, with a volume of 3150663 shares trading hands. The stock had previously closed at C$0.34.
Several other research firms also recently commented on TWM. National Bankshares set a C$0.85 price objective on Tidewater Midstream and Infrastructure and gave the company a “sector perform” rating in a research note on Wednesday, June 5th. Scotiabank downgraded Tidewater Midstream and Infrastructure from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$0.85 to C$0.45 in a research note on Friday. Stifel Nicolaus decreased their price objective on Tidewater Midstream and Infrastructure from C$1.25 to C$0.90 and set a “hold” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada downgraded shares of Tidewater Midstream and Infrastructure from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$1.00 to C$0.80 in a report on Friday, May 10th. Finally, CIBC reduced their target price on shares of Tidewater Midstream and Infrastructure from C$0.90 to C$0.50 in a research note on Friday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$0.79.
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About Tidewater Midstream and Infrastructure
Tidewater Midstream and Infrastructure Ltd. operates as a diversified midstream and infrastructure company in the United States. The company primarily focuses on natural gas, natural gas liquids (NGLs), crude oil, refined products, and renewable products and services. It also engages in the sale of refined petroleum products, including gasoline, low sulphur diesel, and ancillary products, as well as renewable fuels and natural gas; and gathering, processing, transporting, extraction, and marketing of crude oil, natural gas, and NGLs.
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