Jefferies Maintains a 'Buy' on Solazyme (SZYM); Step by Step: Unilever JDA Marks Progress

Jefferies maintains a 'Buy' on Solazyme (NASDAQ: SZYM) price target lowered from $29 to $22.

Jefferies analyst says, "Solazyme's expanded JDA with Unilever (NYSE: UL) is a significant step forward, demonstrating that partners continue to encourage the development of tailored oils despite the uncertain macro environment. While this is positive, we are adjusting the risk premia we use in our valuation models, with the net effect of lowering our 12-month price target."

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

Shares of Solazyme closed at $9.64 yesterday.

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