UPDATE: Piper Jaffray Lowers Renewable Energy Group's PT

According to a research report published this morning, Piper Jaffray has lowered Renewable Energy Group's

PT from $17 to $14. In the report, Piper Jaffray said, "We are reiterating our Overweight rating on REGI, though we are taking a more conservative approach to our forward estimates to reflect tighter margins and uncertainties related to RFS mandates. Despite our lowered estimates, we believe REGI shares remain inexpensive and expect valuations to expand as the company reports seasonally stronger 2Q & 3Q results. The RFS uncertainty should be resolved in the next 2-3 months, which should not only improve industry fundamentals but also investor sentiment." Renewable Energy Group is currently trading at $8.30.