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

Posted by | # |
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.

Tags: , , , ,
 
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.

Comments  

No comments yet.

Leave a comment

(required)

(required)


*