Canaccord Genuity Maintains a 'Buy' on Renewable Energy (REGI); Impressed After Meeting with CEO/CFO

June 1, 2012 8:31 AM EDT
Get Alerts REGI Hot Sheet
Price: $9.03 -0.77%

Rating Summary:
    6 Buy, 1 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 30 | New: 8
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Canaccord Genuity maintains a 'Buy' on Renewable Energy Group (NASDAQ: REGI) price target of $12.00.

Analyst, John Quealy, said, "In terms of first-generation producers, we continue to favor Renewable Energy Group, with a profitable platform, even as Q1 seasonally weak trends linger and the lack of a renewable volume obligation (RVO) modestly lowers visibility into H2/12...We spent time marketing with CEO Dan Oh and CFO Chad Stone yesterday and come away impressed with the strategy and ability to execute in a volatile environment. Near term, the pending lock-up expiration (July 16) will keep shares range-bound, in our view."

For an analyst ratings summary and ratings history on Renewable Energy Group click here. For more ratings news on Renewable Energy Group click here.

Shares of Renewable Energy Group closed at $6.94 yesterday.

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