Clean Energy price target lowered to $4 from $5 at Raymond James

Raymond James analyst Pavel Molchanov lowered the firm’s price target on Clean Energy (CLNE) to $4 from $5 and keeps a Strong Buy rating on the shares. Clean Energy’s business model is diversifying from its historical status as purely a fuel distributor, with in-house production of renewable natural gas underway, though the growth story must be balanced against the fact that the business is highly sensitive to both federal and state policy incentives, the analyst tells investors in a research note.