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Tidewater Midstream and Infrastructure ( (TSE:TWM) ) has issued an update.
Tidewater Midstream and Infrastructure Ltd. is responding to a lawsuit filed by Axiom Oil and Gas Inc., which alleges that Tidewater unreasonably exercised its rights under a gas handling agreement. A previous injunction application by Axiom was dismissed, with the court indicating that Axiom faces significant challenges in proving its claims. Tidewater maintains that the lawsuit is without merit and intends to vigorously defend itself.
The most recent analyst rating on (TSE:TWM) stock is a Hold with a C$10.00 price target. To see the full list of analyst forecasts on Tidewater Midstream and Infrastructure stock, see the TSE:TWM Stock Forecast page.
Spark’s Take on TSE:TWM Stock
According to Spark, TipRanks’ AI Analyst, TSE:TWM is a Neutral.
The overall stock score for Tidewater Midstream and Infrastructure is primarily impacted by its weak financial performance, characterized by declining revenues and high leverage. While technical indicators show some positive momentum, the valuation remains concerning due to a negative P/E ratio. The earnings call provided mixed signals, with strategic initiatives being overshadowed by financial and operational challenges.
To see Spark’s full report on TSE:TWM stock, click here.
More about Tidewater Midstream and Infrastructure
Tidewater Midstream and Infrastructure Ltd. operates in the North American energy sector, focusing on natural gas, natural gas liquids, crude oil, refined products, and renewable energy. The company manages downstream facilities, natural gas processing, and infrastructure, including pipelines and storage, while also marketing energy products across North America. Tidewater is a majority shareholder of Tidewater Renewables.
Average Trading Volume: 21,659
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$115.5M
For an in-depth examination of TWM stock, go to TipRanks’ Overview page.