Jefferies Starts Solazyme (SZYM) at Buy

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Jefferies initiates coverage on Solazyme (NASDAQ: SZYM) with a Buy rating and $29 price target.

The firm states, "For investors comfortable with early-stage companies, Solazyme provides a pure play on two themes: arbitraging the value of carbohydrates and oils, and tailoring oils for specific applications."

NOTE: Jefferies served as Lead Manager in Solazyme's May 2011 IPO.

For more ratings news on Solazyme click here and for the rating history of Solazyme click here.

Shares of Solazyme closed at $24.50 yesterday, with a 52 week range of $19.60-$24.95.

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