Raymond James affirms Market Perform for Codexis, citing biofuels opportunity, uncertain timelines
Category: Fuels
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.
Category: Fuels