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Fly News Breaks for April 16, 2019
HFC
Apr 16, 2019 | 06:24 EDT
Goldman Sachs analyst Neil Mehta downgraded HollyFrontier to Sell from Neutral and lowered his price target for the shares to $45 from $53. The analyst now sees a less attractive crude differential environment given a narrower Brent-WTI and WTI-WCS spread forecast in 2019 and 2020. Further, he has continued concerns around HollyFrontier's specialties business amid base oil oversupply and notes the company's recent operational execution has been below expectations. Mehta sees 5% total return downside.
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