Mizuho Securities Upgrades Intrexon (XON) to Neutral

Mizuho Securities upgraded Intrexon (NYSE: XON) from Underperform to Neutral with a price target of $40.00 (from $45.00).

Analyst Eric Criscuolo commented, "We are upgrading shares from Underperform to Neutral, though our PT drops from $45 to $42 on greater volatility. We think XON’s Analyst Day on November 12 is likely to drive near-term upside, but we remain very cautious on the longer-term outlook, given our current lack of visibility and the diverse, difficult-to-model businesses. All-in, we think the shares are fairly valued here. We look to the Analyst Day to address key concerns and help us sharpen our assumptions and understanding of strategy and market opportunities."

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

Shares of Intrexon closed at $39.78 yesterday.

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