Jefferies Issues a Flash Note on Green Plains Renewable Energy

Jefferies has published a report on Green Plains Renewable Energy GPRE 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.