We are revising our estimates to reflect the impact of weaker market conditions at the BRC; FY2016e EBITDA is now $41 mm, down from $48 mm.The mild winter and seasonality of the propane business has also driven us to reduce our 2Q16 and 3Q16 EBITDA forecast.Management expects truck rack revenue to increase in 4Q16 due to efforts to increase delivery of C5 and possible expansion into other products.With these changes we have lowered our 12-month target price to $1.75/share. We maintain our Outper ....
06 Jul 2016
Pre-2Q16 Update
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Pre-2Q16 Update
Tidewater Midstream & Infrastructure Ltd. (TWM:TSE) | 0 0 5.3% | Mkt Cap: 457.2m
- Published:
06 Jul 2016 -
Author:
Steven I. Paget -
Pages:
4
We are revising our estimates to reflect the impact of weaker market conditions at the BRC; FY2016e EBITDA is now $41 mm, down from $48 mm.The mild winter and seasonality of the propane business has also driven us to reduce our 2Q16 and 3Q16 EBITDA forecast.Management expects truck rack revenue to increase in 4Q16 due to efforts to increase delivery of C5 and possible expansion into other products.With these changes we have lowered our 12-month target price to $1.75/share. We maintain our Outper ....