UPDATE: Credit Suisse Initiates Outperform, $17 PT on Solazyme; BioCarbon Exposure
Credit Suisse initiates its coverage on Zolazyme (NASDAQ: SZYM) a rating of Outperform and a price target of $17 a share.
Credit Suisse says, "A Core Holding for Exposure to the Bio-Based Century Megatrend: Solazyme has a unique technology delivering the right, high-value products that are not contingent on subsidies or commodity fuel markets. The company has a defined commercialization roadmap, with important feedstock supply and product offtake agreements in place."
SZYM closed at $9.92 on Tuesday.
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