Information Provided By:
Fly News Breaks for September 6, 2019
REGI
Sep 6, 2019 | 09:21 EDT
Renewable Energy Group (REGI) shares have been weak this year on fears the company would not generate any free cash flow without passage of the biodiesel tax credit, BWS Financial analyst Hamed Khorsand tells investors in a research note. However, Reuters reported that President Trump's administration is considering raising the biofuel mandate for 2020 by 1B gallons, of which 500M gallons would be for biodiesel, to ease some of the grievances raised by farmers, the analyst points out. Such an increase would have an "immediate positive effect" on prices and allow Renewable Energy to recoup some of the losses from earlier in the year, says Khorsand. The analyst, who continues to believe the biodiesel tax credits is dead, views the potential biofuel mandate raise as the "best catalyst" to Renewable Energy growing free cash flow beyond his expectations. He keeps a Buy rating on the shares with a $31 price target.
News For REGI From the Last 2 Days
There are no results for your query REGI