Clean Energy initiated with an Outperform at Northland

Northland analyst Abhishek Sinha initiated coverage of Clean Energy Fuels with an Outperform rating and $7.50 price target. The company’s large number of fueling stations and a long-standing customer network “provide a wide moat” for the largest RNG provider for the transportation sector, says the analyst. A “solid backdrop” for renewable fuels and strong forecasted RNG demand position Clean Energy well for revenue growth and margin improvement, the analyst tells investors.