Arq price target lowered to $6.50 from $8 at Clear Street

Clear Street lowered the firm’s price target on Arq (ARQ) to $6.50 from $8 and keeps a Buy rating on the shares. The firm noted that the stock dropped on Tuesday following Q4 results, adding that it is disappointed because September 2025 was the original timing to reach the full utilization run-rate of its new Granular Activated Carbon line, which now appears to be pushed out to summer 2027. The firm added that its lower price target reflects the shift in GAC under-absorption cost drag from 2026 to 2027, and now the lack of GAC revenue it had forecast for 2026.