UPDATE: Canaccord Genuity Lowers Renewable Energy Group's PT

According to a research report published today, Canaccord Genuity has lowered Renewable Energy Group's

PT from $13 to $12. In the report, Canaccord Genuity commented, "In terms of first generation producers, we continue to favor Renewable Energy Group, with a profitable platform, even as Q1 seasonally weak trends linger and the lack of a renewable volume obligation (RVO) modestly lowers visibility into H2/12. We maintain our BUY rating and adjust our price target to $12 from $13 on lowered estimates." Renewable Energy Group closed Friday at $7.82.