Jefferies Cuts Estimates on Green Plains Renewable Energy (GPRE); Ethanol Under Pressure

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Jefferies reiterates a 'Buy' on Green Plains Renewable Energy (NASDAQ: GPRE) price target of $12.00 (from $17.00).

Analyst, Laurence Alexander, said, "To better reflect near-term margin pressure on the ethanol industry, albeit partly offset by favorable corn oil economics and marketing & distribution trends, we are lowering 2012E $0.42 to a loss of $0.02 and 2013E $0.80 to $0.75. With algae newsflow likely in Q4, we reiterate our rating."

For an analyst ratings summary and ratings history on Green Plains Renewable Energy click here. For more ratings news on Green Plains Renewable Energy click here.

Shares of Green Plains Renewable Energy closed at $6.67 yesterday, with a 52 week range of $6.43-$12.06.

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