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Fly News Breaks for March 29, 2018
HFC
Mar 29, 2018 | 08:18 EDT
Argus analyst Bill Selesky raised his price target on HollyFrontier to $56 from $53, saying the company stands to benefit from oil prices sustaining a $50-$60 per barrel range as well as diminishing inventories of crude oil, gasoline, and diesel products. Selesky further notes HollyFrontier's higher refining margins reported in its most recent quarter from the positive oil market trends. The analyst keeps his Buy rating while also raising his FY18 EPS forecast to $3.66 from $2.65, reflecting improvement "within the company's primary end-markets and expectations for increased pipeline throughput and a continued recovery in refining margins".
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