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Investing.com - TD Securities downgraded Superior Plus Corp (TSX:SPB) (OTC:SUUIF) from Buy to Hold and lowered its price target to C$8.50 from C$9.50.
The downgrade comes as Superior Plus faces seasonal slowness in the second and third quarters, according to TD Securities. The firm noted that previously disclosed Superior Delivers initiatives are not expected to contribute to results until the fourth quarter of 2025.
Beyond seasonal factors, TD Securities pointed to challenging macroeconomic conditions for Certarus, raising questions about whether the unit can achieve the 5-10% year-over-year growth target that is embedded in the company’s guidance.
The investment bank also expects buyback activity to decrease in the near term, further contributing to its more cautious stance on the stock.
Superior Plus is a distributor and marketer of propane and distillates in both the United States and Canada, and also provides natural gas liquids and renewable energy solutions.
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