UPDATE: Piper Jaffray Reiterates Overweight Rating, $20 PT for KiOR

In a company update released earlier today, Piper Jaffray & Co. reiterated its Overweight rating for KiOR, Inc. KIOR, along with maintaining its price target of $20. Piper Jaffray went on to say in the report “We came away from a field trip yesterday with KiOR management (to the Columbus facility construction site) incrementally more confident in mechanical completion early this summer and modest product sales beginning in late 3Q/early 4Q. In addition to a comprehensive review and tour of Columbus, management discussed its plans for the second plant in more detail, including the status of sustainable feedstock supply and negotiations, the potential for partner financing, next-phase reactor design, and the operational efficiencies they expect from this ideal second location.” KiOR, Inc. closed at $10.86 yesterday.