Clean Energy price target lowered to $2 from $5.25 at UBS

UBS analyst Manav Gupta lowered the firm’s price target on Clean Energy (CLNE) to $2 from $5.25 and keeps a Buy rating on the shares. The firm believes advanced transportation fuel cells and the 45Z clean fuel production tax credit could both drive upside to 2025 guidance, and notes the company restarted its buyback program and beat 2024 EBITDA guidance. However, it adjusted estimates to align with Clean Energy’s outlook and market uncertainty.