Amyris, Inc. (AMRS) PT Raised to $25 at Oppenheimer
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Oppenheimer analyst Colin Rusch raised the price target on Amyris, Inc. (NASDAQ: AMRS) to $25.00 (from $6.00) while maintaining a Outperform rating.
The analyst commented, "AMRS posted transformative results and guidance as it is proving out the power on its technology platform and building its clean beauty business. We are encouraged by the accelerating cadence of its molecule development as well as its investment in maximizing the value of its pipeline. With 18 incremental molecules expected to be fully commercialized through 2025, we believe the company is evaluating optimal strategy with each molecule noting the potential for multiple end markets per molecule. With guidance for AMRS to lower debt to ~$100M by the end of 3Q21, we believe the technology opportunity is being supported by ongoing deleveraging. Given a more stable financial performance and additional clarity in growth potential, we raise our price target to $25 (from $6)."
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