Calumet Inc (CLMT) is a storyline on the US stock market on Monday, with its shares skyrocketing as much as 14% in the opening hours of trade. Calumet manufactures, formulates, and markets a slate of specialty branded products and renewable fuels in North America and internationally. With the company being one of the best performers to open the trading week, analysts are eying CLMT, looking for the catalyst of the latest jump, and are figuring out if there is more room to surge.

CLMT has already delivered strong returns, with the stock up 82% year-to-date and 181% over the past year. Calumet Specialty Products shares jumped Monday after analysts pointed to stronger pricing and rising demand in the renewable fuels market. The company benefits from being a low‑cost producer during the ongoing energy market disruption due to the US-Iran war. In response to these improving conditions, H.C. Wainwright raised its price target on the stock while reiterating a Buy rating.

HC Wainwright bumped up its Calumet (CLMT) stock target from $33.00 to $60.00. This would imply a return on investment of over 87% from the current price. The Wainwright firm argues that Calumet is well-positioned to capitalize on the shift toward cleaner energy, as its cost advantage could translate into higher margins if favorable pricing persists. This upbeat view on the company’s prospects has added fuel to the recent rally in Calumet’s stock, drawing fresh attention from investors watching the renewable fuels space.

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Furthermore, while its FY2025 results were largely in line with expectations, Calumet also improved its business profile, driven not by margin expansion yet, but by a significantly strengthened balance sheet and operational execution. The company has aggressively refinanced its debt, eliminating the overhang of debt and its potential impact on where revenue goes. Hence, investors are bullish that solid earnings moving forward will improve Calumet’s products and capitalize on the rising demand for renewable fuels.

CLMT is trading near the top of its 52-week range and above its 200-day simple moving average. Outside of H.C. Wainwright, other Wall Street firms covering CLMT remain mixed on the stock. However, none of the analysts surveyed by CNN Business have given the stock a sell rating, only meaning that they are patiently waiting to see how the market continues to progress, given the ongoing global events.