Here's Why Green Plains Roared Higher Today
Shares of Green Plains (NASDAQ: GPRE) rose as much as 37.8% today after the stock received an upgrade from a Wall Street analyst. Jeffries analyst Laurence Alexander raised his price target from $7 per share to $16 per share, arguing that the troubled ethanol industry is poised for a recovery as demand for transportation fuels picks up amid reopening efforts.
Investors wasted no time taking the bullish argument into account. After touching lows of $4 per share in March, shares of the ethanol producer were trading hands near $9 apiece as of 12:40 p.m. EDT, marking a gain of 24.6% for the small-cap stock.
Image source: Getty Images.
Source Fool.com
