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Fly News Breaks for June 25, 2019
DK
Jun 25, 2019 | 05:14 EDT
Goldman Sachs analyst Neil Mehta downgraded Delek US to Sell from Neutral, noting that the stock has risen 28% since June amid a favorable crude spread between Brent and Midland. However, with three new pipelines coming into service, he expects this Brent-Midland differential to meaningfully compress in 2020, Mehta tells investors. He also notes that the downgrade is not a call on Q2 results, as his estimates for the quarter are above consensus forecasts. Mehta lowered his price target on Delek US shares to $37 from $38.
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