Superior Plus (SPB) has received a rating update from a Wall Street analyst yesterday. Scotiabank’s analyst Benoit Laprade reiterates their Buy rating on the shares, with a C$14.25 price target.
According to TipRanks.com, Laprade is a 1-star analyst with an average return of -0.6% and a 54.3% success rate. Laprade covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Cascades Inc, and Norbord Inc.
Read also: All Eyes on Disney (DIS) Stock Ahead of Fiscal Q2 Earnings
Currently, the analyst consensus on Superior Plus is a Strong Buy with an average price target of C$14.25, a 15.3% upside from current levels. In a report issued on May 2, Raymond James also maintained a Buy rating on the stock with a C$14.50 price target.
.
Based on Superior Plus’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of C$48.3 million. In comparison, last year the company had a net profit of C$47.3 million.
Superior Plus Corp. engages in the provision of propane distribution, specialty chemicals, construction products distribution and fixed price energy services. The company operates through two segments: Energy Distribution and Specialty Chemicals.
The company’s shares closed on Friday at C$12.36.
