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Amyris downgraded to Underweight after ‘disappointing’ Q3 at JPMorgan
The Fly

Amyris downgraded to Underweight after ‘disappointing’ Q3 at JPMorgan

JPMorgan analyst Rachel Vatnsdal downgraded Amyris to Underweight from Neutral without a price target. The company reported "disappointing" Q3 results and visibility in sales growth moving forward remains unclear following management’s decision to reduce expectations for the core business in 2022-2025, Vatnsdal tells investors in a research note. The analyst also sees further downside risk on the consumer brands business in the near-term given its exposure to consumer spending and the evolving macro environment. Vatnsdal says any underperformance in the higher-margin Consumer business in the near term would further increase Amyris’s cash burn and liquidity needs and could ultimately create the potential for necessary dilutive financing.

Published first on TheFly

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