Crowell Weedon Reiterates Buy on Clean Energy Fuels on 4Q12 Results

In a report published Wednesday, Crowell Weedon & Co. reiterated its Buy rating and $25.00 price target on Clean Energy Fuels Corp.

. Crowell Weedon noted, “On February 28, 2013, CLNE reported fourth quarter and full year 2012 results and provided an update on its development plans. Last year, the company delivered nearly 195 million gallons of fuel, up 25% from the previous year. Additionally, the company completed 70 LNG Flying J stations, well on its way to the eventual rollout of America's Natural Gas Highway (ANGH). Heavy duty natural gas engines are now in production and as new vehicles are deployed, stations will be activated. Realistically, it will be at least another 6-12 months to assess the early uptake of natural gas engines by the trucking industry. Meanwhile, current spreads in the price between gasoline/diesel make conversion attractive and we recommend CLNE shares at current levels for long-term, growth oriented investors.” Clean Energy Fuels Corp. closed on Tuesday at $12.64.