LFG - 'World class RNG developer' Archaea Energy launched at Overweight at Barclays

Archaea Energy (NYSE:LFG) +8.6% in Friday's trading after Barclays initiated coverage with an Overweight rating and $26 price target, citing the renewable natural gas provider's "vast growth potential amid a favorable macro environment." Archaea Energy (LFG) is "a leading waste-to-energy company with visible growth that is underpinned by long-term contracts with creditworthy counterparties," analyst Theresa Chen writes, adding that RNG demand is expected to more than double by 2030. To address growing market demand, Archaea (LFG) has a backlog of 88 high quality RNG development projects for which gas rights are already in place with a 32.5-year average remaining life, according to Chen. Archaea Energy (LFG) reported a Q1 GAAP loss of $0.28/share on revenues of $57M.

For further details see:

'World class RNG developer' Archaea Energy launched at Overweight at Barclays