Clean Energy initiated with Overweight, $8 target at Piper Sandler

Piper Sandler analyst Ryan Todd last night initiated coverage of Clean Energy with an Overweight rating and $8 price target. The company offers 76% EBITDA growth per year to 2025 underpinned by eight projects under development and there are 12 additional projects in the pipeline, the analyst tells investors in a research note. Clean Energy has the largest downstream distribution network in country and an "overly discounted valuation," Piper contends.