UPDATE: Wedbush Securities Assumes Coverage On Green Plains As Uncertainty Clouds Outlook

In a report published Friday, Wedbush Securities analyst David L. Rose assumed coverage on

with a Neutral rating and $31.00 price target. In the report, Wedbush Securities noted, "In our view, GPRE has successfully transformed itself into a leading vertically-integrated player in the biofuels industry. However, in the near term, the outlook is more negative as market forces (rising inventories and lower gas prices) and regulatory uncertainty are creating significant headwinds, leading to a meaningful step-down in cash flow for 2015 and possibly 2016 from record 2014 levels. Given the valuation, anticipated earnings pressure, and a highly uncertain regulatory environment, we assume coverage with a NEUTRAL rating." Green Plains closed on Thursday at $28.04.