Opal Fuels price target raised to $16 from $12 at Piper Sandler

Piper Sandler analyst Ryan Todd raised the firm’s price target on Opal Fuels to $16 from $12 and keeps an Overweight rating on the shares. The analyst adjusted targets higher for the biofuels space into the Q2 reports “despite a mixed macro backdrop.” In the near-term, potential regulatory updates still offer potential upside catalysts, the analyst tells investors in a research note.