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CEREPLAST INC : cerp receives reiterated Speculativ Buy

23 févr. 201018:58

Press Release Source: Cereplast Inc. On Thursday January 21, 2010, 9:28 am EST

DALLAS--(BUSINESS WIRE)--Cereplast Inc. (OTCBB: CERP - News) receives reiterated Speculative Buy from Beacon Analyst, Victor Sula, Ph.D.

The full report is available at http://www.beaconequity.com.

Anyone interested in receiving alerts regarding CERP research should e-mail members@beaconequity.com with “CERP” in the subject line.

CERP expects an upgrade to a senior stock exchange before the end of the quarter, as noted in a recent interview with Reuters.

In the Beacon Equity report, the analyst writes, “Since our last update, CERP’s share price has increased 37% from $0.08 in October 2009 to $0.11 in January 2010. We think there are several major reasons for share price appreciation: the new Algae to plastic development announced by the Company in October, new funding to support this program, the announcement of preparations to list CERP shares on a senior exchange (NASDAQ or NYSE-AMEX), higher oil prices, which make bioplastics more cost-competitive, and finally CERP’s restructuring, which has slowed the Company’s cash burn and refocused its resources on product design and development.

“In addition, the development of algae-based resins represents an outstanding growth opportunity for the Company and could further reduce the cost of bioplastics as well as the industry’s reliance on fossil fuel. CERP is talking with chemical conversion companies about partnering with it to convert algae biomass into viable monomers for further conversion into biopolymers. This step could open the door for a major switch from traditional plastics to bioplastic. The cost structure is appealing, CERP is a clear leader in this field and such a breakthrough could position the Company far ahead of its competitors.”

Other companies in the basic materials sector include: Praxair Inc. (NYSE: PX - News), Albemarle Corp. (NYSE: ALB - News), Chemical & Mining Co. of Chile Inc. (NYSE: SQM - News) and International Flavors & Fragrances Inc. (NYSE: IFF - News).

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