Origin Materials price target lowered to 60c from $2 at BofA

BofA lowered the firm’s price target on Origin Materials to 60c from $2 and keeps a Neutral rating on the shares. While the firm says it continues to see significant long-term potential for Origin’s CMF technology to produce “myriad advantaged and sustainable products,” and that the firm agrees with the company’s asset-light partnering/licensing approach, it adds that there is no certainty about the company’s partnerships and that challenges facing Origin are broadly consistent among the new entrants in sustainable plastic, driving down valuations.