Oppenheimer has initiated coverage of the down and out US-ethanol sector, and the group was given a lackluster "Perform" rating.
"Perform" ratings have been assigned to Aventine Renewable Energy (NYSE: AVR), Pacific Ethanol (NASDAQ: PEIX), and VeraSun Energy (NYSE: VSE).
With most of these stocks down by two-thirds or more from their 52-week highs, this won’t help a beleaguered sector. If you watch SEC filings, you will have probably seen that Bill Gates’ Cascade fund has been selling more and more of those Pacific Ethanol positions (although he took most funds out long ago).
With the exception of the farmers and businesses that this is helping out, it becomes very difficult to find people who still believe the US-based ethanol program does any good other than helping boost the cost of agriculture.
As we have maintained: "If Iowa wasn’t the first state on the presidential election circus, ethanol would be handled far differently."
Jon C. Ogg
April 25, 2008
Are You Ahead, or Behind on Retirement? (sponsor)
If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention.
Finding a financial advisor who puts your interest first can be the difference between a rich retirement and barely getting by, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.