Canaccord Genuity Maintains a 'Buy' on Gevo, Inc. (GEVO); Overhang Lifted...For Now
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Price: $1.54 +1.99%
Rating Summary:
10 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on Gevo, Inc. (NASDAQ: GEVO) price target of $16.00.
Analyst, John Quealy, said, "The major near-term overhang is now removed (injunction risk), while a strongly worded court decision seems to tip the scales in Gevo’s favor. Importantly, this ruling should also help drive potential partnerships given the removal of significant market uncertainty. Near term, we believe a capital raise becomes increasingly likely to meet construction plans, keeping volatility intact ($150M shelf outstanding)."
However, Quealy expects Butamax to appeal the case, but a settlement may not be out of the question. This would ultimately offer real potential to the company from a cross-licensing agreement.
For an analyst ratings summary and ratings history on Gevo, Inc. click here. For more ratings news on Gevo, Inc. click here.
Shares of Gevo, Inc. closed at $7.75 yesterday.
Analyst, John Quealy, said, "The major near-term overhang is now removed (injunction risk), while a strongly worded court decision seems to tip the scales in Gevo’s favor. Importantly, this ruling should also help drive potential partnerships given the removal of significant market uncertainty. Near term, we believe a capital raise becomes increasingly likely to meet construction plans, keeping volatility intact ($150M shelf outstanding)."
However, Quealy expects Butamax to appeal the case, but a settlement may not be out of the question. This would ultimately offer real potential to the company from a cross-licensing agreement.
For an analyst ratings summary and ratings history on Gevo, Inc. click here. For more ratings news on Gevo, Inc. click here.
Shares of Gevo, Inc. closed at $7.75 yesterday.
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