UPDATE: UBS Starts Solazyme (SZYM) at Buy; Tailored Renewable Oil Leader With $200B+ Market Opportunity

June 12, 2012 7:28 AM EDT
Get Alerts SZYM Hot Sheet
Price: $2.15 --0%

Rating Summary:
    6 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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(Updated - June 12, 2012 10:32 AM EDT)

UBS initiates coverage on Solazyme (NASDAQ: SZYM) with a Buy. PT $16.00.

Analyst, Mahavir Sanghavi, said, "Solazyme uses algae fermentation to convert carbohydrates (sugar) into high value oils many of which can not be made naturally. Solazyme has demonstrated its product performance on a commercial scale and we estimate it can address the unsubsidized plant-based oil market ($200B) at a 30%+ margin sustainably."

"...We expect long term offtake contracts with key customers such as Unilever (NYSE: UL), Dow (NYSE: DOW) and Chevron (NYSE: CVX) to materialize as the
capacity plans firm up."

For an analyst ratings summary and ratings history on Solazyme click here. For more ratings news on Solazyme click here.

Shares of Solazyme closed at $12.10 yesterday.

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