Why Aemetis Stock Rallied as Much as 17% Today
Shares of Aemetis (NASDAQ: AMTX) were higher by roughly 17% at 1 p.m. EDT. The renewable fuels and biochemicals company didn't release any specific news today that would have elicited such a dramatic rise in price. But a Credit Suisse analyst did.
Manav Gupta of Credit Suisse started coverage of Aemetis with an outperform rating. The stock was given a price target of $35 per share, which is roughly 75% above where the stock closed on March 19, the previous trading day. Investors often buy a stock when it is added to coverage with a favorable rating. The lofty price target probably didn't hurt, either.
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Source Fool.com
