Goldman Sachs lowered the firm’s price target on Calumet (CLMT) to $17 from $21 but keeps a Buy rating on the shares. The firm is updating estimates for Calumet to incorporate the MaxSAF expansion and Q4 earnings, noting that while it will recognize investor cautiousness around the debt profile and potential RD earnings implications of the switch from BTC to PTC, it also sees the sell-off as overdone at current levels, the analyst tells investors in a research note.
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