Clean Diesel Technologies initiated with Buy at Lake Street

• Clean Diesel Technologies (OTC:CDTI +0.9%) is initiated with a Buy rating and $3 price target at Lake Street Capital, which believes investors are missing the significant changes in CDTI's strategy and business model undertaken in the past year.
• The firm says that while there is still work to be done and there are risks, it sees shares moving higher as CDTI ramps its catalyst supply deal with AP Exhaust in the aftermarket channel, gains traction with new OEMs in its catalyst business, and ramps its Heavy-Duty Diesel replacement parts business.