Novozymes declines amidst regulatory uncertainty in the U.S.

In Denmark, Novozymes fell as uncertainty about the U.S.’s regulatory environment for biofuels raised questions for the future of the world’s largest enzyme producer for biofuels. Novozymes declined to the lowest price since February 1st, and was the biggest decliner in Copenhagen’s benchmark index. “In our view this is probably the strongest collection yet of resistance to the increase in U.S. ethanol blends,” UBS analysts, including Thomas Gilbert, said in a note to clients. “Novozymes’ valuation implies long term top line growth of 18 percent. We see 13 percent growth at best.”

More on the story.