Credit Suisse Downgrades KiOR, Inc. (KIOR) to Neutral; Funding Arrangement Aside, N-T Challenges Remain

Credit Suisse cuts KiOR, Inc. (Nasdaq: KIOR) from Outperform to Neutral while moving its price target from $3 down to $2.

Credit Suisse noted the recent $25 million financing arrangement that KiOR entered into on the call today. The firm said, The deal provides much needed capital to cover cash burn and provides additional time to work on achieving targeted yields/plant reliability. The company still needs to raise additional capital to operate Columbus and build a second plant to achieve profitability ... However, without commercial-scale demonstration of economically viable yields and production costs, future capital raises may prove challenging. The next six months will be crucial ... for KiOR.

For an analyst ratings summary and ratings history on KiOR, Inc. click here. For more ratings news on KiOR, Inc. click here.

Shares of KiOR, Inc. closed at $0.81 yesterday.

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