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I agree the facts don't support the conclusion.
They downgraded and got it wrong at $9.7. Here they are trying again at $12.8, at some point the egg face is becoming notorious...http://www.dailymarkets.com/stock/2010/12/14/cosan-downgraded-to-underperform/…timely downgrade though, I have cash and would add more at cheaper prices.
In my book..timely=suspicious,especially from Zacks...http://www.foxbusiness.com/markets/2010/12/13/brazil-petrobras-says-talks-buy-stake-ethanol-producer-eth/#ixzz182AxBzNDHave a nice day