Jefferies Raises GPRE 2011E/2012E EPS Estimates

To reflect the closure of the Otter Tail transaction, “a better ethanol margin environment, and higher DDG prices,” Jefferies is raising its Green Plains GPRE 2011E EPS by $0.30 to $1.50 (assumes a $0.13/gal ethanol EBITDA margin) and 2012E EPS by $0.50 to $1.90 ($0.15/gal ethanol gross margin). Green Plains currently trades at $11.84.