H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Calumet Specialty Products (CLMT – Research Report) today and set a price target of $33.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Amit Dayal’s rating is based on several positive developments and expectations for Calumet Specialty Products. The company has shown steady operational performance with increased year-over-year production volumes, reflecting its stable market position. Additionally, Calumet has improved its balance sheet significantly through strategic financial maneuvers, including U.S. Department of Energy funding and monetization efforts.
Another factor contributing to the Buy rating is the company’s expansion plans in sustainable aviation fuel (SAF), which are expected to be more cost-effective than previously anticipated. Calumet is also adjusting its reporting of adjusted EBITDA to better reflect its cash flow performance. The primary catalyst for the stock’s performance in the near term is expected to be improvements in RIN pricing and clarity on renewable volume obligations. Despite macroeconomic challenges affecting sentiment, Calumet has largely achieved its milestones, supporting the positive outlook.
Dayal covers the Industrials sector, focusing on stocks such as Plug Power, Joby Aviation, and Ceco Environmental. According to TipRanks, Dayal has an average return of -21.9% and a 25.61% success rate on recommended stocks.