Stifel analyst Derrick Whitfield lowered the firm’s price target on Gevo to $2.70 from $3 and keeps a Buy rating on the shares. The firm is updating estimates in its Americas Biofuels coverage following the release of final RVOs from the June 21 RFS final rule announcement for 2023-2025 volumes. The firm views the changes as “undoubtedly positive” for cellulosic fuels like renewable natural gas over the period and negative for advanced biofuels like renewable diesel and biodiesel in the near-term, Stifel tells investors.
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