Tidewater Midstream & Infrastructure downgraded to Hold from Buy at Stifel

Stifel analyst Cole Pereira downgraded Tidewater Midstream & Infrastructure to Hold from Buy with a price target of C$1.15, down from C$1.80. The company reported Q4 results "modestly ahead" of Stifel and consensus estimates, but also announced that the capital cost of its Renewable Diesel facility has increased and that commissioning has now been delayed a quarter to Q2, the analyst tells investors. The firm sees "meaningful" near-term uncertainty around the timing, cost and EBITDA contributions from its flagship facility, as well as the funding requirements, the analyst added.