UPDATE: Jefferies Raises PT on Verenium to Match BASF's Bid
In a report published Monday, Jefferies analyst Laurence Alexander reiterated a Hold rating on Verenium Corp. (NASDAQ: VRNM), and raised the price target from $2.60 to $4.00.
In the report, Jefferies noted, “We are raising our price target to match BASF's (BAS GR, Hold) bid of $4, which is expected to close in Q4. We view a counter-offer as highly unlikely. We reiterate our Hold rating.”
Verenium Corp. closed on Friday at $3.98.
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