UBS starts new renewable diesel producer Calumet Specialty at Neutral

As previously reported, UBS analyst Manav Gupta initiated coverage of Calumet Specialty Products with a Neutral rating and $15.70 price target. Calumet is a new renewable diesel producer with a "strong" renewable diesel project that has a location advantage and a good pre-treatment unit, Gupta tells investors. His Neutral rating reflects a belief that upside is priced into the stock.