Solazyme cut to Neutral from Buy at Goldman on limited near-term upside

|By:, SA News Editor

Solazyme (SZYM -1.1%) is downgraded to Neutral from Buy with a $13.50 price target at Goldman Sachs, which sees limited upside for the stock in the near-term although the long-term growth story is intact.

The firm believes SZYM has executed well vs. peers, with its first two commercial-scale facilities now within months of coming online and delivering volume, but this catalyst appears to be reflected in the stock’s ~30% move since the end of January.

The firm adds that it is more guarded on the near-term path for catalysts given financial performance is likely to remain muted.