Jefferies Issues a Flash Note on Green Plains Renewable Energy

Jefferies has published a report on Green Plains Renewable Energy

covering Q2 for the renewable energy company, and noting better than average EPS for the quarter. In the report, Jefferies wrote, "Segment profits were $0.10/share ahead of our forecast, driven by ethanol ($0.12/gal EBITDA margins were $0.02 better than expected) and corn oil. Q2 should mark a rough this year, as Green Plains appears to have locked in a significant portion of (better) ethanol margins for the next two quarters." Jefferies rated Green Plains a BUY with a price target of $16.00. Green Plains closed Wednesday at $11.23.