Raymond James analyst Pavel Molchanov upgraded Clean Energy to Outperform from Market Perform with a $6 price target. The stock presents a "textbook buy-on-the-dip opportunity" following the company’s lower than expected 2023 guidance, the analyst tells investors in a research note. The share price is currently at roughly the same level where it had been before the Inflation Reduction Act, the firm points out. It believes shies of Clean Energy are now in "value territory" and that concerns about California’s low carbon fuel standard pricing are overblown.
Published first on TheFly
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