UPDATE: Piper Jaffray Upgrades Metabolix To Neutral

According to Piper Jaffray, Metabolix MBLX is upgraded to Neutral. Piper Jaffray said that it views shares of MBLX trading at just above cash levels as fairly valued and have elected to upgrade our rating to Neutral while maintaining a $5 target. “We expect the cash drag from crop development to lessen as the company draws on the switchgrass DOE grant.” Metabolix closed yesterday at $4.93.