B. Riley lowered the firm’s price target on Opal Fuels (OPAL) to $5 from $6 and keeps a Buy rating on the shares. Opal Fuels reported Q4 EBITDA of $22.6M, below Street estimates, while Renewable Natural Gas production was 1.1M MMbtu, slightly below the firm’s model of 1.21M MMbtu, the analyst tells investors in a research note. The firm says 2025 guidance looked weak compared to consensus EBITDA of $119.8M, as most forecasts likely did not utilize prevailing D3 RIN prices, which are well off of 2024 averages.
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