- 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.