Tidewater Midstream downgraded to Neutral from Outperformer at CIBC

CIBC downgraded Tidewater Midstream & Infrastructure to Neutral from Outperformer with a price target of C$1.10, down from C$1.50. The company reported “weak results in an overall messy quarter,” the analyst tells investors in a research note. The firm says the lack of a coherent strategy and potential for reduced profitability at the remaining midstream assets cause it to hesitate.