Aemetis (AMTX) PT Raised to $32 at Stifel After Management Call
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Stifel analyst Derrick Whitfield raised the price target on Aemetis (NASDAQ: AMTX) to $32.00 (from $25.00) while maintaining a Buy rating after hosting a call with Eric McAfee (Chairman and Chief Executive Officer of Aemetis) for a conversation on renewable natural gas (RNG).
The analyst stated "Based on our call with Mr. McAfee and the company's March 17, 2021 update (CEQA approval for a 32-mile biogas pipeline extension), we are reiterating our Buy rating and raising our 12-month target price to $32.00/share. Importantly, we caution investors to note that our target price increase reflects only the de-risking of our RNG assumptions following the March 17, 2021 update. We continue to believe investors do not fully appreciate the synergistic nature of Aemetis' business model and the degree of conservatism built into its five-year plan."
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