Clean Energy (CLNE)

[pack10]

I'll believe a 5 star analyst like Paul Cheng, who is impressed with what he sees with Clean Energy and management. Mr Cheng rates CLNE a buy with a price target at $13.00.


5-star analyst Paul Cheng, of Scotiabank, covers this renewable energy producer, and he’s impressed with what he sees.

“As the leading natural gas fuel distributor in North America, CLNE is in a prime position to fuel the transportation sector’s transition to renewable energy. We think the company’s expansion into upstream RNG production will leverage existing downstream capabilities to provide vertical integration opportunities. This will enhance economics and allow for optimization of gas flows across CLNE’s network to maximize environmental incentives," Cheng writes.

"The company’s long-standing relationships with feedstock owners and fleet operators established over its 20 years in the industry provides the basis for growth in key customer markets along with securing additional RNG supply,” the analyst added.

Following from his upbeat outlook on the company, Cheng rates CLNE shares as Outperform (i.e. Buy), and his price target, which he puts at $13, indicates room for some robust 137% growth in the year ahead. (To watch Cheng’s track record, click here)

Overall, four of the Street’s analysts have published their thoughts on Clean Energy Fuels, and their missives include 3 Buys and 1 Hold for a Strong Buy rating. The shares have an average target of $13.33, implying a 143% upside from the current trading price of $5.48. (See CLNE stock forecast on TipRanks)