XCF Global shares rise 10.7% premarket as Roth/MKM initiates coverage with $0.40 price target, citing refinery restart and USDA loan support.

XCF Global surged 10.71% in premarket trading following Roth/MKM’s initiation of coverage with a Neutral rating and $0.40 price target, above its current $0.35 share price. The firm highlighted the company’s approaching “pivot point” with the planned Q1 2026 restart of its New Rise Reno sustainable aviation fuel refinery, noting potential for improved economics if feedstock costs fall below $1.00 per gallon. Analysts also cited the USDA loan guarantee as an underappreciated strength and acknowledged the appointment of CFO William Dale, who brings operational finance expertise. XCF’s exploration of debt financing for facility expansion, supported by Bank of America, further signaled strategic momentum. While the Neutral rating reflects cautious optimism, the stock’s sharp premarket gain suggests investor enthusiasm for the refinery’s operational progress and management upgrades.