Calumet Specialty price target raised to $33 from $25 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Calumet Specialty Products (CLMT) to $33 from $25 and keeps a Buy rating on the shares. The firm cites the expected positive impact on the company’s financials from the closing of the $1.44B Department of Energy loan that was announced on Friday for the target increase. The loan is expected to fund the expansion of Calumet ‘s renewable fuels, positioning the company to establish production capacity of around 300M gallons of sustainable aviation fuel and 30M gallons of renewable diesel, the analyst tells investors in a research note.