US GreenHunter to 'outperform' – Oppenheimer

05 August 2008 16:47  [Source: ICIS news]

HOUSTON (ICIS news)--Investment bank Oppenheimer & Co said on Tuesday it initiated stock performance analysis of GreenHunter, giving the largest biodiesel company in the US an 'outperform' rating.

Oppenheimer said it was impressed with the company's management team and diverse renewable energy portfolio.

The Grapevine, Texas-based alternative energy company started biodiesel production in June. It projected company revenue would hit $538.8m (€344.8m) in 2009, its first year of full operations, up from an estimated $179.7m in 2008.

GreenHunter stock rose $0.50, or more than 3%, on the American Stock Exchange to reach $16 per share in trading early Tuesday.

($1 = €0.64)

For more on biodiesel visit ICIS chemical intelligence
For some independent thinking on biofuels bookmark Simon Robinson's Big Biofuels Blog

By: Ben Lefebvre
+1 713 525 2653

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