Goldman Sachs lowered the firm’s price target on Calumet (CLMT) to $17 from $21 but keeps a Buy rating on the shares. The firm is updating estimates for Calumet to incorporate the MaxSAF expansion and Q4 earnings, noting that while it will recognize investor cautiousness around the debt profile and potential RD earnings implications of the switch from BTC to PTC, it also sees the sell-off as overdone at current levels, the analyst tells investors in a research note.
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Read More on CLMT:
- Calumet Specialty Products put volume heavy and directionally bearish
- Calumet Announces Retirement of Key Board Members
- Calumet Specialty Products: Hold Rating Amid Declining Stock, Revised EBITDA, and Market Challenges
- Calumet upgraded to Neutral from Sell at UBS
- Calumet price target lowered to $28 from $29 at Wells Fargo
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