Soleil Securities Reiterates Their Sell Rating on Pacific Ethanol (PEIX); Lowers PT
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Soleil Securities reiterates their Sell rating on Pacific Ethanol (NASDAQ: PEIX) and lowers their price target from $2.00 to $1.50.
The firm reiterated their Sell rating after the company reported disappointing Q2 results. In addition, the firm said, "Outlook remains weak given the forecasted ethanol environment and their debt-heavy balance sheet. As we are modeling negative margins going forward, we do not anticipate any significant improvement in their financials."
Pacific Ethanol, Inc. produces and sells ethanol and its co-products in the western United States, primarily in California, Nevada, Arizona, Oregon, Colorado, and Idaho.
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