Calumet (CLMT)* $10.25 – “Three strong buys” by analysts
Calumet for LOTM, is a double plus idea from its current price. Some smart and informed money managers are talking about a $50 plus price target in two to three years. They can be found on the Seeking Alpha, CLMT site.
- CLMT Finviz link to news, charts and stats.
Fundamental catalysts:
- Cash flow is expected to begin from its Montana refinery in September. CLMT converted a portion of the refinery to Bio-fuels from fossil fuels refining. It goes into operation this September. We anticipate better margins and higher revenue.
- We expect to see a rising dividend over the next two to four years.
- Debt reduction is high on the agenda, post completion of the refinery conversion.
- Crack spreads per barrel are at elevated levels. Chart below.
It is unlikely a new refinery will be built in our life time. CLMT’s Montana refinery is among the newer ones.
Calumet is a LOTM: Ten Under $10 for a Double position.
- Our initial suggestion was Aug 1, 2020, at a price of $2.96.
- We added two additional units to the Ten Under $10 for the Double list at $3.12 on Dec 12, 2021, and Feb 22, 2021, at $3.93.
We are still looking for a double or higher from the current price, only this time we have multiple Wall Streeters echoing the same tune.
Written July 19, 2022, by Tom Linzmeier, editor, LivingOfftheMarket.com
LOTM Research & Consulting Service
* An account related to LOTM holds a position in this security.
Neither LOTM nor Tom Linzmeier is a Registered Investment Advisor.
Please refer to our web site for full disclosure at www.LivingOffTheMarket.com ZTA Capital Group, Inc.
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