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Fly News Breaks for January 13, 2017
ALJ, DKL
Jan 13, 2017 | 07:15 EDT
Wells Fargo increased its price target on Delek Logistics (DKL) after the company announced that it had acquired the remaining 53% stake in Alon USA Energy (ALJ). Wells raised its outlook for Delek's distribution growth to a three year CAGR of 8.4%, "predicated on the dropdown of Alon's logistics assets." Wells increased its 2017 DCF forecast for the company to $2.90 from $2.62 "to reflect the assumed dropdown acquisition" It keeps an Outperform rating on the shares. .
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