KiOR -6% on Cowen downgrade, price target cut to $1.50


KiOR (KIOR -6%) is downgraded to Market Perform from Outperform with a $1.50 price target, down from $8.50, at Cowen, which cites concerns about dwindling production and expectations for new funding for R&D and capital expenditures.

The downgrade comes on the heels of news last week that KiOR does not plan to resume commercial operations this quarter at its flagship plant in Mississippi.

Among biofuels makers, Cowen prefers Solazyme (SZYM +4.7%); the firm has an Outperform rating and a $14 price target on the stock.

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  • Marc Freeman
    , contributor
    Comments (134) | Send Message
     
    Cowen downgraded KIOR today. The SA blurb says the following:

     

    "Among biofuels makers, Cowen prefers Solazyme (SZYM +4.7%); the firm has an Outperform rating and a $14 price target on the stock."

     

    This misrepresents SZYM. In fact, the company in it's last CC plainly stated that they left a very large potential contract/order in Biofuels on the table in order to go after much higher margin business in a wide variety of non biofuel markets. SZYM is underappreciated by the average investor or institutional investor for that matter.

     

    After market hours another major partner was announced. This adds to a corporate who's who's of already reported partners who are lining up in multiple industries to use SZYM revolutionary algae based oil products.

     

    The stock is giving us another chance to get in before the long ascent begins. As I have said repeatedly be patient and good things will come! Regards to all.
    14 Jan 2014, 07:34 PM Reply Like
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