Wedbush Starts Green Plains Renewable Energy (GPRE) at Outperform; Low-Cost Ethanol Producer; Debottlenecking and Corn Oil Have Delivered
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Price: $15.99 -0.93%
Rating Summary:
10 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 26
Rating Summary:
10 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 26
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Wedbush initiates coverage on Green Plains Renewable Energy (NASDAQ: GPRE) with a Outperform. PT $16.00.
Wedbush analyst said, "We believe Green Plains is well positioned for EPS growth from successful innovation around lower costs. Management’s proactive margin strategy should minimize ups and downs in a cyclical ethanol market, helping drive consistent results."
"While spot ethanol crush margins are near multi-year highs, futures have yet to indicate a clear direction for 2012. The Iowa crush spread was $0.80 / gal in the October, the highest level since $0.82 /gal in October 2009. This compares to avg. crush margins of $0.68 in 3Q11, $0.44 in 2Q11, and $0.51 in 3Q10. Shortterm futures trends are volatile, and GPRE’s hedging strategy will cause a lag for the benefit to materialize, but we expect GPRE will directly benefit."
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 $10.54 yesterday.
Wedbush analyst said, "We believe Green Plains is well positioned for EPS growth from successful innovation around lower costs. Management’s proactive margin strategy should minimize ups and downs in a cyclical ethanol market, helping drive consistent results."
"While spot ethanol crush margins are near multi-year highs, futures have yet to indicate a clear direction for 2012. The Iowa crush spread was $0.80 / gal in the October, the highest level since $0.82 /gal in October 2009. This compares to avg. crush margins of $0.68 in 3Q11, $0.44 in 2Q11, and $0.51 in 3Q10. Shortterm futures trends are volatile, and GPRE’s hedging strategy will cause a lag for the benefit to materialize, but we expect GPRE will directly benefit."
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 $10.54 yesterday.
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