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UPDATE - UBS Upgrades Gevo (GEVO) to Buy on Recent Sell-off

June 23, 2011 10:38 AM EDT
Get Alerts GEVO Hot Sheet
Price: $0.77 +5.48%

Rating Summary:
    8 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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UPDATE - UBS upgrades Gevo (Nasdaq: GEVO) from Neutral to Buy. PT $21.

UBS analyst says, "GEVO shares are down ~25% in June. Despite a general “risk off” environment, shares have significantly underperformed peers Amyris Biotechnologies (Nasdaq: AMRS), Codexis (Nasdaq: CDXS) and Solazyme (Nasdaq: SZYM) (down 2% on avg in June). We believe concerns around legislative actions on ethanol and the start of the ASTM bio-jet certific ation process have sown confusion; indeed, a potential elimination of ethanol blending credits should help Gevo (improving its negotiating position with corn ethanol plant owners), while Gevo has proceeded to the next stage of ASTM approval--a 2-year process forecast to conclude in 2013."


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