Chemtrade Logistics Income reinitiated with "hold"

10/21/04 - Canaccord Capital

NEW YORK, October 21 (newratings.com) - Analyst Curtis Gillis of Canaccord Capital reinitiates coverage of Chemtrade Logistics Income (CHE.UN) with a "hold" rating. The target price is set to C$18.50.

In a research note published this morning, the analyst mentions that the company reported its Q3 results in-line with the consensus. The revenues from Chemtrade Logistics Income's international segment continues to be healthy, the analyst says. The company's performance in 4Q is likely to be weaker than that witnessed in Q3 due to sluggish industry fundamentals, the analyst adds.