CLNE - Clean Energy Fuels raised at Raymond James Bloom Energy cut

2023-04-05 12:23:15 ET

Clean Energy Fuels ( NASDAQ: CLNE ) +1.8% in Wednesday's trading as Raymond James upgraded the stock to Outperform from Market Perform with a $6 price target, as "a textbook buy-on-the-dip opportunity after a harsh reaction to lower than expected 2023 guidance."

Clean Energy's ( CLNE ) recent drop "was steeper than what would be warranted by the lower guidance, [but] the stock is back into what we consider to be value territory, and the entry point once again looks attractive," Ray Jay's Pavel Molchanov wrote.

The analyst warned on the stock's volatility, saying "it is emphatically not a buy-and-hold name."

Molchanov also downgraded alternative energy peer Bloom Energy ( NYSE: BE ) to Outperform from Strong Buy with a $25 PT, trimmed from $29, helping send the stock -4.8% on Tuesday.

Bloom's ( BE ) electrolyzer rollout is taking longer than expected, "reducing the potency of near-term catalysts vis-a-vis green hydrogen," according to Molchanov.

Bloom Energy ( BE ) boasts a "stellar growth strategy," expanding its footprint in the U.S. and internationally into hydrogen, CCUS, biogas and marine, Simple Investing writes in an analysis published recently on Seeking Alpha .

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