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Fly News Breaks for January 3, 2020
Jan 3, 2020 | 07:57 EDT
Piper Jaffray analyst Patrick Flam raised his price target for Renewable Energy to $41 from $32 following the recent passage of a long-term BTC extension, which he called "a huge boon to the biodiesel industry." He believes the influx of cash from the BTC over the next several years should position Renewable Energy for success in both the traditional biodiesel and renewable diesel markets and should also let the company strategically deploy capital back to shareholders, said Flam, who keeps an Overweight rating on the stock.