Why Clean Energy Fuels Stock Slumped This Week
An analyst significantly reduced his price target on the company's equity.
Overview
The stock of alt-fuel specialist Clean Energy Fuels (NASDAQ: CLNE) was sputtering over the past few days, due in no small part to an analyst's price target cut. Over the course of the trading week, the company's shares fell by almost 12%, according to data compiled by S&P Global Market Intelligence.
The person wielding the scissors was Pavel Molchanov of Raymond James (NYSE: RJF). On Tuesday, he lowered his Clean Energy Fuels price target to $2.50 per share from $4. Despite that rather deep cut, Molchanov reiterated his strong buy recommendation on the stock.
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Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.