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Fly News Breaks for October 19, 2016
HFC
Oct 19, 2016 | 09:21 EDT
As previously reported, Scotia Howard Weil downgraded HollyFrontier to Sector Perform from Outperform and lowered its price target to $24 from $29. Analyst Blake Fernandez said HollyFrontier has been negatively impacted by compressing crude differentials and escalating RIN's prices and combined with higher cost assumptions and reduced capture rate in 2017, result in a lower earnings forecasts and share buybacks.
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