Inside the Market’s roundup of some of today’s key analyst actions
With third-quarter earnings season for Canadian banks set to begin next week, National Bank Financial analyst Gabriel Dechaine said the outlook for interest rates supports his “positive” stance on the sector.
In a research report released Friday, Mr. Dechaine made small “tweaks” to his credit expectations, increasing his sector provisions for credit losses ratio to 47 basis points from 45 basis points, previously, to reflect a “general sense of conservatism, given rising insolvencies in Canada, potential commercial impairments and losses in some consumer categories .
Accordingly, while noting utilization and realizations at its Renewable Diesel & Renewable Hydrogen Complex facility were strong through its second quarter “as an indication of its value therein,” he lowered his recommendation for the Calgary-based company to “underperform” from “sector perform” previously, despite stronger-than-expected financial results.
“The company expects to exceed utilization forecasts at its HDRD facility, with a focus on optimizing FCF with limited maintenance capex spend .” “Therein, we have assumed it achieves the low end of its historical EBITDA forecast in association with that noted credit support through H1/25, before risking that for limited credit sales in H2/25,” said Mr. Payne. “To that end, this is a conservative outlook , while we similarly caution that there are multiple risks towards the durability of this outlook.”“From there, the value of the business has deteriorated, with little visibility on the quality and repeatability of revenue.
“With liquidity and leverage now bridged for the near-term, eyes are likely to focus on credit markets and government policy going forward to rebalance the RD supply in B.C. and the associated credit market,” he said.* Mr. Heywood to 80 cents from $1.10 with an “outperform” rating.Shares of the Calgary-based clean-technology company plummeted 38.5 per cent on Thursday after it reported a record $5.3-mln in sales, which fell below both Mr. Merer’s $17.
Canada News Breaking News Video Canadian Breaking News Breaking News Globe And Mail Breaking News Globe And Mail Canada News Photos World News Local News National News Us News Foreign News Sports News Arts News Life News Lifestyle Canada Traffic Canada Weather Trudeau Government Federal Government Canada Sports Canada Sports News Politics Politics News Political News Political Opinion Environment Economy Technology Education Travel Canada Alberta Bc British Columbia Manitoba Ontario Quebec Nova Scotia Pei New Brunswick Newfoundland And Labrador Nunavut Northwest Territories Yukon Globe And Mail
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Notable quotes from the 2024 Paris OlympicsHere are some notable quotes from the 2024 Paris Olympics on Aug. 10, 2024:
Read more »
Notable quotes from the 2024 Paris OlympicsHere are some notable quotes from the 2024 Paris Olympics on Aug. 4, 2024:
Read more »
Notable quotes from the 2024 Paris OlympicsHere are some notable quotes from the 2024 Paris Olympics on Aug. 3, 2024:
Read more »
Notable quotes from the 2024 Paris OlympicsHere are some notable quotes from the 2024 Paris Olympics on July 28, 2024:
Read more »
Notable quotes from the 2024 Paris OlympicsHere are some notable quotes from the 2024 Paris Olympics on July 27, 2024:
Read more »
Calgary's 5 most expensive homes for sale right now (August 2024)Calgary's five most expensive residential homes for sale.
Read more »