Morgan Stanley reiterates its Overweight rating and $29 target price on Solazyme SZYM on Bunge JV catalyst.
Morgan Stanley notes, "Management stated that the company is on track to enter into a formal JV with Bunge and break ground on its first fuels & chemicals facility – 100,000MT plant in Moema, Brazil – in 1H12 . Beyond the Bunge JV, we believe the market will focus on the ramp of the Phase II facility that the company is building with Roquette."
SZYM closed at $11.87 a share on Tuesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in