Zacks Upgrade to Strong Buy
Aug 26, – updated Aug 29, 2020
Tom Linzmeier – editor LivingOffTheMarket.com
StockTA.com Opinion linked here: CLMT
| Analysis | Overall | Short | Intermediate | Long |
| Neutral | Neutral | Neutral | Bullish |
| With any uptick this week the technical indicators at StockTA.com should go on all buy signals. LOTM’s price target on or before the Sale of the Great Falls Montana refinery (assuming it is completed) $3.50 to $4.50 area. |
Above: The chart suggest that Calumet is positioned to rally.
The stock price ($2.62) is above its 50-day ($2.51) and 150-day ($2.54) moving averages. It had opportunities to start a down-trend and has rallied or held above $2.40 each time. Catalyst is pending in the sale of the Great Falls, Montana refinery. Once sold Next six months in our estimate) the balance sheet improves from debt reduction and free cash flow expands from an already healthy number. CLMT trades at about 1.2 times free cash flow.
Below: Zacks, Aug 26, 2020 – Strong Buy recommendation on Calumet Specialty Products (CLMT)*
Volume increased to three times normal on the Zacks Strong Buy release Aug 26, 2020. We think that is significant.
As a Vaccine or Vaccines are introduced, we fully expect cyclical stocks to move aggressively higher. This rotation will likely come at the expense of Precious Metals and Technology stocks. Be ready to transition or own some cyclical stocks. We have Natural Gas and Pipelines on our attractive cyclical list. Commodities in general seem ready to take more of a leadership performance role. Where Value meets Buy Signals!
Contact us with questions or comments at Tom@LivingOffTheMarket.com
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* An account related to LOTM holds a position in this security. These Investments are bought and sold constantly.
Neither LOTM nor Tom Linzmeier is a Registered Investment Advisor.
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