Danimer Scientific (DNMR) PT Lowered to $5.50 at TD Cowen

TD Cowen analyst Thomas Boyes lowered the price target on Danimer Scientific (NYSE: DNMR) to $5.50 (from $40.00) while maintaining a Hold rating.

The analyst comments "Danimer reported top line results in line with our expectations. The company doesn't anticipate any additional headwinds related to the converter diversification action taken by Starbucks. The 20mn lbs. cutlery & 3mn lbs. cutlery wrapper award is progressing well. Going concern language was added to 10Q, if going concern appears in 10K we see risk of default on senior secured term loan."

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