Danimer Scientific price target lowered to $2 from $3 at TD Cowen

TD Cowen lowered the firm’s price target on Danimer Scientific to $2 from $3 and keeps a Buy rating on the shares. The firm said they reported results broadly in line with expectations given earlier pre-announcement. Cowen said they are constructive on the company’s ramp which is weighted to 2H24 as the cutlery award begins to manifest. They noted 2024 guidance was softer expected so continue to see stock as range-bound in the near term ahead of high volumes manifesting.