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

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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