12:10 PM EDT, 03/28/2025 (MT Newswires) -- National Bank of Canada on Friday raised Tidewater Midstream and Infrastructure's ( TWMIF ) target to $0.15 from $0.10 after the company reported fourth quarter results a day earlier.

"Based on the BRC roadway sale at a double-digit EBITDA multiple, our target bumps up $0.05 to $0.15, reflecting an implied trading multiple of ~4.5x 2026e EBITDA," said National Bank. "This is pending confirmation of rebounding B.C. renewable diesel and B.C. LCFS credit markets by the second half of 2025 and sustainable production and margins at TWM's legacy PGR operations following settlement or resolution of Plateau Pipe Line application to the BCUC to abandon service of PGR's feedstock pipeline."

The bank maintained its underperform rating on the company's shares.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

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