Green Plains price target lowered to $30 from $32 at BofA

BofA analyst Salvator Tiano lowered the firm’s price target on Green Plains to $30 from $32 and keeps a Buy rating on the shares. The ethanol market has deteriorated more than the firm expected, but despite challenges the firm sees “reasons to stay Buy-rated,” the analyst tells investors. These include the announced strategic review, expectations of multi-year EBITDA growth, benefits from carbon sequestration, and attractive valuation, the analyst explained.