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UBS Upgrades Ethanol Plays Aventine Renewable Energies (AVR) & Verasun (VSE)
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.
More on this topic
(What's this?)
Positive data from VeraSun Energy
(Investing Thoughts, 7/8/08)
VeraSun Energy blows out earnings estimates
(Investing Thoughts, 8/12/08)
Shell Bets Billions on Brazilian Ethanol
(Green Chip Stocks, 2/4/10)
The Outlook for the New Generation of Biofuels
(The Iconoclast Investor, 2/23/10)
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