UBS Upgrades Ethanol Plays Aventine Renewable Energies (AVR) & Verasun (VSE)

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10:40:21 am on July 18, 2008

UBS upgraded two ethanol plays this morning – Aventine Renewable Energies (AVR) & VeraSun Energy (VSE) to buy ratings saying the recent drop in corn prices along with healthy ethanol prices have created a positive margin scenario and that legislative support for corn based ethanol will be a positive for ethanol names in the short term

AVR is currently up about 10% and has cleared the 50 day moving average in recent days but remains in a strong downtrend.  VSE is up nearly 18% and has cleared the 50 day moving average but also remains in a long downtrend.

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