Raymond James affirms Market Perform for Codexis, citing biofuels opportunity, uncertain timelines

In California, Raymond James affirmed its Market Perform status for Codexis in light of the company’s “opportunity to be a first mover in advanced biofuels with the uncertain timeline for commercialization”.

Biofuels analyst Pavel Molchanov wrote that “Codexis’ plans to diversify into carbon capture and bio-based chemicals carry positive long-term potential, they are still largely conceptual. Codexis is a biofuels story, first and foremost, and its strategy is heavily dependent on Shell, which – like all supermajors – tends to move slowly, especially with regard to new technologies.”

The Digest notes, however, that Shell has declared 2011 to be the “Year of Decisions” in bioenergy.

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