Jefferies Downgrades Metabolix (MBLX) to Hold Cites No Visibility

Jefferies downgraded Metabolix (NASDAQ: MBLX) from Buy to Hold with a price target of $4.

The firm comments, "The termination of Telles by ADM (NYSE: ADM) illustrates one of the challenges faced by the capital-intensive renewables sector: low returns on a first project can destabilize a JV. While the decision taints assessments of the PHA polymer adoption curve, Metabolix still has options, notably the CJ partnership. With little visibility on timing and value capture, we are lowering our rating to Hold from Buy and our PT $5 to $4."

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

Shares of Metabolix closed at $5.99 yesterday.

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