Morgan Stanley Downgrades AMRS To EW; Raises PT To $26

Morgan Stanley has downgraded Amyris, Inc. (NASDAQ: AMRS) to Equal-weight from Overweight.

“Following recent share price strength, we see a balanced risk/reward as reflected in our 1:1 bull to bear ratio,” Morgan Stanley writes. “Recent partnership agreements and news flow from Total derisk the story, we think, and we raise our price target to $26. That said, we have limited confidence in a single-point estimate given the early stage nature of the business.”

Amyris currently trades at $29.99.