UPDATE: Morgan Stanley Reiterates Overweight Rating, Removes PT on Solazyme as Moema COD Significantly Derisks Story

In a report published Friday, Morgan Stanley analyst Timothy Radcliff reiterated an Overweight rating on

, but removed the $15.00 price target. In the report, Morgan Stanley noted, “An operational Moema facility allows the market to refocus on Solazyme's valuable technology platform and robust strong growth prospects, rather than handicapping the startup of the Brazilian plant. We expect the Clinton and Moema facilities to reach nearly 25% of their 120k MT total capacity by the end of 2014 (implying $96m of company-wide revenues for the full year), ramping to nearly full utilization by 4Q 2015 and nearly tripling revenues to $295m next year.” Solazyme closed on Thursday at $10.44.