RBC Capital Cuts EverGen Infrastructure Price Target By 14%

• EverGen Infrastructure Corp (TSXV:EVGN) (OTC: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.