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MARKET TALK: Rally In Clean Energy Fuels Set To Continue...

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Wed, 13 Jul 11 6:56 PM | 30 view(s)
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I own 1,000 sheres of (CLNE)!
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MARKET TALK: Rally In Clean Energy Fuels Set To Continue


07/13 08:02 AM

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8:02 (Dow Jones) Clean Energy Fuels (CLNE:$15.08,00$1.96,0014.94%) is set to rally for a second- straight day in the wake of late Monday's announcement that Chesapeake Energy (CHK:$29.7700,$0.0200,0.07%) will make a $150M investment in the company. Bank of America Merrill Lynch goes from underperform to buy on CLNE and boosts its price target to $19 from $ 15 "on increased confidence and higher estimates." CLNE provides natural gas for vehicles, a still-nascent industry in which the company has yet to turn a profit. But BofA Merrill notes the increased cost of such vehicles to conventional ones continues to narrow, increasing demand for the nat-gas trucks in the process. CLNE up 9.4% premarket to $16.50 after Tuesday's 15% advance. ( kevin.kingsbury@dowjones.com)

Call us at (212) 416-2354 or email kevin.kingsbury@dowjones.com


(END) Dow Jones Newswires
07-13-110802ET
Copyright (c) 2011 Dow Jones & Company, Inc.

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