RE:Raymond James analyst David Quezada is a big believer in GRNPuffpuff02 wrote: Raymond James analyst David Quezada is a big believer in Greenlane’s future, initiating coverage on the stock recently with a “Strong Buy” rating and a $1.25 per share target price, suggesting more than 92% upside from present levels.
“Our bullish stance is a function of: 1) Substantial industry growth in RNG driven by a steep adoption curve similar to the early days of wind and solar power as gas utilities are pressured to decarbonize; 2) the company’s strong competitive positioning with three key RNG upgrading technologies; 3) sales momentum via $38-million in large orders year-to-date; and 4) a valuation that has lagged clean tech peers in recent months despite the aforementioned sales wins,” he said.
Shares of Greenlane Renewables have soared more than 447% over the past year to its current price of $2.30 a share.
Not sure where you got this but it's incorrect in a number of ways. First of all, Raymond James target is $3.00. Secondly, if he was talking about a 92% upside from current levels, that would work out to $4.41. GLTA