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Fly News Breaks for January 7, 2019
DK
Jan 7, 2019 | 08:32 EDT
As reported earlier, RBC Capital analyst Brad Heffern downgraded Delek US to Sector Perform from Outperform and lowered his price target to $38 from $61. The analyst notes that the "core thesis" behind investment in the shares is being eroded by "significant pipeline additions" even though the drilling activity is slowing as oil price falls below $50 per barrel. Heffern anticipates the stock to be pressured by downward earnings revisions and also sees its free cash flow yield at the "low end" of its peer group.
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