The green economy may have prevailing winds behind it but stocks across the board have been hurting this year, especially those with much of their growth trajectory still ahead of them. Which is why investors should be perking up when they hear positive takes on companies in the cleantech space, including these three Canadian stocks, all of which have recent Buy ratings from analysts. We start with Vancouver-based good natured products (good natured products Stock Quote, Charts, News, Analysts, Financials TSXV:GDNP), which makes packaging and consumer products out of renewable, plant-based materials. The company is still in an expansion phase, buying up new product manufacturing plants including a recently announced bid to acquire Texas-based plastic packaging business FormTex to support GDNP’s extrusion capacity in the United States. Beacon Securities analyst Ahmad Shaath commented on good natured’s recent news and financials in an update to clients on June 1, where he said GDNP’s first quarter results were ahead of expectations. Revenue was up 228 per cent year-over-year to $25.9 million and adjusted EBITDA was $1.6 million, the second consecutive quarter of positive EBITDA for the company. “Our Q1 2022 growth in revenue and adjusted EBITDA is the result of our collective team across North America working together to achieve an incredible outcome in very challenging macro economic operating conditions,” said Paul Antoniadis, CEO of good natured, in a press release. For his part Shaath reiterated a “Buy” rating on the stock and said his outlook for GDNP remains intact. At the same time, the analyst lowered his target price due to multiple contraction in the space. “Revenue strength in the quarter was attributed to general price increases, which GDNP was successful in applying across the industrial and packaging business groups. These price increases were more than sufficient to offset cost inflation and thus help in margin recovery,” Shaath wrote in his report. Shaath’s target went from $2.00 to $1.40, which at the time of his report’s publication represented a projected one-year return of 208 per cent. Next up is another CPG-focused company called Loop Industries (Loop Industries Stock Quote, Charts, News, Analysts, Financials NASDAQ:LOOP), which has a patented process for making PET plastic and polyester fibre out of 100 per cent recycled content. Another company focused on expansion, Loop aims to have ten plants up and running over the next decade, processing one million metric tonnes of waste. Analyst J. Marvin Wolff of Paradigm Capital said although Loop is currently a pre-revenue operation it continues to hit commercialization milestones and its product, recycled PET plastic has seen a strong bump in global prices of late owing to the rise in oil prices but also the high demand for recycled PET where regulatory bodies around the world are putting a premium on the product. “Loop Industries has developed disruptive technology that addresses recycling of single-use plastics. Loop’s patent-protected technology and unique process allow any kind of PET-based plastic waste to be recycled into a branded, food-safe grade of PET from 100 per cent recycled content,” Wolff wrote in a May 30 report to clients. “With regulatory, corporate sustainability and investor ESG targets acting as tailwinds, Loop’s technology has the potential to be a global standard for PET recycling.” With his update, Wolff retained a “Buy” rating on Loop and $21.00 target price, which at the time of publication represented a projected return of 260 per cent. Last we have DIRTT Environmental Solutions (DIRTT Environmental Stock Quote, Charts, News, Analysts, Financials TSX:DRT), which has software and in-house manufacturing to make custom prefabricated interiors for the non-residential construction market. Headquartered in Calgary, DIRTT (which stands for Doing It Right This Time) has manufacturing at four locations in North America. The company has been going through a major shakeup at the top, with many key positions turning over including at CEO where DIRTT is still in the process of finding a new leader (expected by July). At the same time, the interior construction industry has been depressed of late due to a number of pandemic-related factors. But DIRTT’s future looks bright, according to iA Capital Markets analyst Neil Linsdell, who said in a June 6 report that the worst is behind DIRTT and that solidifying things at the top will come as a relief to both investors and the company itself. “We believe that as the Company rebuilds, it will be well-positioned to capture more meaningful contracts as its offerings address client demands for more versatility and surety of costs and schedule commitments,” said Linsdell. “We remain optimistic on DIRTT’s continuing improvement as we lap some of the worst of the pandemic impacts and should see continuous year-over-year improvements,” he said. With his report, Linsdell reiterated a “Buy” rating on DRT and $1.85 target price, which at press time represented a projected return of 25.9 per cent.