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Fly News Breaks for March 14, 2018
CLNE
Mar 14, 2018 | 08:58 EDT
Lake Street analyst Robert Brown lowered his price target for Clean Energy Fuels to $7 from $10 citing a reduced forward growth rate in the out-years. The analyst, however, believes the shares are near a bottom. Clean Energy's share price reflects the multiple challenges the company has faced in the past 12-24 months but is missing "significant" fundamental improvements that should start to show in 2018, Brown tells investors in a research note. The company has made "substantial" progress reducing costs, fixing its balance sheet, and restructuring its business to focus on growth segments, the analyst contends. He keeps a Buy rating on Clean Energy.