RBC Capital Cuts EverGen Infrastructure Price Target By 14%

April 25, 2022 2:38 PM | 1 min read | Make a Comment

EverGen Infrastructure Corp EVGN EVGIF price target has been lowered to C$6 from C$7 by RBC Capital analyst Nelson Ng. The price target supports an Outperform, Speculative Risk rating.
The analyst continues to see upside once management executes on its RNG development plans.
He adds that the project delays in both near-term projects, due to factors outside the control of management, reduce the near-term visibility of the company.
The analyst reduced the price target to reflect the added uncertainty around the timing and cost of the near-term RNG developments.
Price Action: EVGN shares are trading lower by 1.89% at C$3.63 on TSX on the last check Monday.