MS initiated SZYM with an outperform and $15 target..they never had another target this is the first time they assumed coverage of SZYM
Analyst Initiation Summary
Today's noteworthy initiations include: Adobe (ADBE) initiated with a Buy at B. Riley... Ameriprise (AMP) initiated with a Buy at Citigroup... Cabot Oil & Gas (COG) initiated with an Outperform at Wells Fargo... Churchill Downs (CHDN) initiated with an Outperform at Wells Fargo... Mitel (MITL) initiated with a Sector Perform at RBC Capital... Six Flags (SIX) initiated with an Outperform at Credit Suisse... StealthGas (GASS) initiated with a Buy at Jefferies... SunCoke Energy (SXCP) initiated with an Outperform at Wells Fargo... WellCare (WCG) initiated with a Hold at Jefferies... Aruba Networks (ARUN) initiated with a Buy at Cleveland Research... Apple (AAPL) initiated with a Buy at Standpoint Research... Solazyme (SZYM) coverage assumed with an Overweight at Morgan Stanley.
SZYM Solazyme coverage assumed with an Overweight at Morgan Stanley price target is $15
this is of course better than nothing, but so far all analysts (including the joker from Piper Jaffray) failed to perform an analysis of SZYM where their prediction would match the outcome.
Instead of new analyst coverage from MS, I'd have preferred to find them on as a new line item on the list of major shareholders. This would have a much greater payback.
Will their new coverage have any affect on the buying decision that their funds make? Such as "Emerging Leaders Equity Fund"? I sure hope so, otherwise their rating is worth as much as from the other guys.