Analyst Jason Gabelman from TD Cowen maintained a Hold rating on Clean Energy Fuels (CLNE – Research Report) and keeping the price target at $3.00.
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Jason Gabelman has given his Hold rating due to a combination of factors influencing Clean Energy Fuels’ performance. The company reported a strong first quarter in 2025, with adjusted EBITDA surpassing expectations due to higher fuel margins. However, this was partially offset by lower fuel volumes and reduced contributions from LCFS and RINs, which introduces some uncertainty in future performance.
Despite the impressive quarterly results, Clean Energy Fuels maintained its full-year EBITDA guidance, suggesting caution amidst macroeconomic uncertainties and a slowdown in heavy-duty truck purchases. While the company benefits from a fully US-based RNG supply chain, which insulates it from tariffs, the potential for fluctuating RNG volumes and regulatory changes adds complexity to its outlook. These mixed signals contribute to the Hold rating, as the stock’s potential upside is closely tied to regulatory developments and market conditions.
According to TipRanks, Gabelman is a 4-star analyst with an average return of 6.5% and a 56.04% success rate. Gabelman covers the Energy sector, focusing on stocks such as BP, Shell, and Equinor ASA.