From Earlier: Barclay's Initiates Ceres: Overweight, $18 PT
Barclay's initiated Ceres (NASDAQ: CERE) coverage with an Overweight rating and $18 price target in a research report published today.
In the report, Barclay's targeted three areas of value for the company in energy crops, biotech traits, and the company's opportunity to sell sorghum in Brazil.
Barclay's also stated that Ceres' biofuel and biopower crops may have "significant upside" in future years.
Shares of Ceres were trading at $10.03 at the time of posting, down 2.72% from Thursday's market close.
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