Wells Fargo analyst Roger Read lowered the firm’s price target on Calumet (CLMT) to $23 from $28 and keeps an Overweight rating on the shares. The firm cites reduced valuation multiples in its sum-of-the-parts, which reflects increased uncertainty on the timing of the RD recovery/PTC clarity and economic outlook for Specialties & Performance Brands.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CLMT:
- Calumet Specialty Products Announces Leadership Change
- Calumet Specialty Products put volume heavy and directionally bearish
- Calumet price target lowered to $17 from $21 at Goldman Sachs
- Calumet Announces Retirement of Key Board Members
- Calumet Specialty Products: Hold Rating Amid Declining Stock, Revised EBITDA, and Market Challenges