BofA analyst Conor Fitzpatrick initiated coverage of Calumet (CLMT) with a Buy rating and $15 price target The oil refiner and biofuel producer is progressing its biofuel business Montana Renewables’ MaxSAF project to expand renewable jet fuel capacity, notes the analyst, who expects MaxSAF to roughly double EBITDA between 2025 and 2027. Renewables growth should drive deleveraging, the analyst added.
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