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Fly News Breaks for May 24, 2018
HFC
May 24, 2018 | 08:00 EDT
Argus analyst Bill Selesky raised his price target on HollyFrontier to $85 and kept his Buy rating after its Q1 earnings beat. The analyst contends that the "swing to profitability" reflected higher crude oil volumes and refining margins, along with a full quarter of contribution from the recently-purchased Petro-Canada Lubricants business. Selesky also raises his FY18 EPS view to $4.78 from $3.66 after the Q1 beat as well as the improving end-market conditions for the company.
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