Several analyst rating changes today. Analyst notes courtesy of Street Insider.
Upgrades
Ardour Capital upgraded Darling (DAR) from Hold to Accumulate and raised price target to $9.50. Shares up nearly 4% today but still trading below the 200 day moving average. Get a FREE Darling Intl Technical Analysis
Ardour Capital also upgraded Akeena Solar (AKNS) from Hold to Buy and has a $1.25 price target (about 50% higher than the current price) AKNS is … Read the rest
Green Plains Renewable Energy just announced that they will be acquiring agribusiness operations from the Tom Wade family and Farmers Grain of Trenton, LLC.
Under the terms of the agreement, Green Plans Renewable Energy will purchase 5 grain elevators located within a 50-mile radius of Green Plains’ Obion, Tennessee plant. The elevators can store 11.7 million bushels of grain, bringing the company’s total storage capacity to 30.3 million bushels. The company is also acquiring additional … Read the rest
Piper Jaffray has initiated coverage on Green Plains Renewable Energy (GPRE) this morning with an Overweight rating and a price target of $19. Hat tip to Street Insider for the following analyst comment:
“We believe this vertically-integrated ethanol producer is poised to deliver significant earnings growth over the next two years through much-improved ethanol production margins and the potential for highly-accretive M&A activity. The company’s recent capital raise strengthens the balance sheet and positions GPRE … Read the rest
Green Plains Renewable Energy (GPRE) continues to get back in the black with a big splash. After reporting steep losses in 2007 and 2008, the company bounced back with a big surge in revenues and earnings last year as ethanol production increases along with prices. It’s safe to say that conditions for ethanol producers are quite a bit better now than they were a couple years ago and that’s certainly reflected in the stock prices … Read the rest
The following article is republished with permission from Cabot and written by Andy Obermueller of Government-Driven Investing.
The President’s health care initiative rests on a shelf with little talk in Congress about what’s next for the sweeping overhaul. At the same time, Mr. Obama has re-positioned the chessboard for his climate-control bill, suggesting at a town-hall meeting in Nashua, New Hampshire, last Tuesday that the legislation might need to be split: One bill would contain … Read the rest
As reported by Agriculture.com’s Don Looker, Margo Oge, director of transportation and air quality at the EPA, did not attend this year’s Iowa Renewable Fuels Association summit because she was busy writing the second draft of the EPA’s new renewable fuel standards. The new standards are expected to be announced very soon, and the continued recovery of the American biofuels industry may hang in the balance.
Per the Energy Independence and Security Act of 2007, … Read the rest
Production has started at BioProcessAlgae, LLC’s (a joint venture between Green Plains Renewable Energy, water filtration group CLARCOR Inc, BioProcessH2O LLC and NTR plc) Phase I photobioreactor pilot project. Algae production has started, and the company will begin gathering data over the next 4 months to determine how well the technology being tested will scale commercially.
In a press release, Todd Becker, President and Chief Executive Officer of Green Plains Renewable Energy, commented on … Read the rest
Green Plains Renewable Energy just announced that they have now gotten their Central City, Nebraska ethanol plant online, according to DomesticFuel.com. The plant, which has not been running since November 2008, was purchased from Verasun when Verasun went bankrupt. Green Plains’ plant in Ord, Nebraska, which was purchased at the same time, was put back into service in the middle of last month.
In the article referenced above, Todd Becker, the president and CEO of … Read the rest
Green Plains Renewable Energy has begun grinding corn to turn in to ethanol at its new plant in Ord, Nebraska. The plant, which Green Plains Renewable Energy acquired earlier this month, should be producing its fist batch of ethanol tomorrow, July 16th.
In a company press release, Green Plains CEO Todd Becker commented on the milestone:
The startup of the Ord plant within eight days of completing the purchase is a testament to our … Read the rest
Green Plains Renewable Energy just announced that it has signed agreements to buy 2 Nebraskan ethanol plants. By purchasing these plants, Green Plains Renewable Energy will be able to produce 480 million gallons of ethanol each year, 45% more than it currently produces. It will also become the 4th largest US ethanol producer. The company will pay $123.5 million for the plants. The deal is being financed by AgStar Financial Services, and Green Plains Renewable … Read the rest