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UPDATE: Goldman Sachs Reiterates Neutral Rating, Lowers PT on KiOR

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UPDATE: Kior Shares Rise 75% Premarket on News in Pact with KFT Truat on $25M Note Purchase

In a report published Monday, Goldman Sachs reiterated its Neutral rating on KiOR (NASDAQ: KIOR), but slightly lowered its price target from $8.00 to $7.00.

Goldman Sachs noted, “Late Friday (1/25/13), the US Court of Appeals announced a ruling on a case brought by the American Petroleum Institute (API) that (1) challenged the EPA's refusal to lower its 2012 advanced biofuel volume mandate and (2) questioned whether the EPA's 2012 cellulosic biofuel projections were in excess of its ‘statutory authority.' The court rejected API's challenge to the EPA's 2012 advanced biofuel requirement, but agreed that the EPA's cellulosic projections were not within its authority, subsequently vacating the cellulosic aspect from the 2012 renewable fuel standard (RFS2) rule.”

KiOR closed on Friday at $5.99.

Latest Ratings for KIOR

DateFirmActionFromTo
Apr 2014Credit SuisseDowngradesOutperformNeutral
Mar 2014Piper JaffrayDowngradesOverweightNeutral
Jan 2014Cowen & CompanyDowngradesMarket PerformOutperform

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