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Fly News Breaks for May 16, 2017
HFC, MPC, DK, VLO
May 16, 2017 | 05:31 EDT
Goldman Sachs analyst Neil Mehta downgraded Valero (VLO) to Neutral citing a more balanced risk/reward following the stock's outperformance. Further, the analyst thinks the upcoming OPEC meeting could drive further compression of the light-heavy differential. He lowered his 6-month target for the shares to $73 from $74. Mehta this morning also upgraded Delek US (DK) to Buy, kept a Buy rating on Marathon Petroleum (MRC) and a Sell rating on HollyFrontier (HFC).
News For VLO;DK;MPC;HFC From the Last 2 Days
VLO
Apr 18, 2024 | 06:20 EDT
Citi analyst Vikram Bagri raised the firm's price target on Valero to $192 from $160 and keeps a Buy rating on the shares. The analyst refreshed the company's model for the latest commodity prices. Valero embarked on a larger maintenance period in Q1, which should position the company well ahead of a potentially strong summer driving season, the analyst tells investors in a research note. However, Citi sees low prospects for a sharp price reaction to the Q1 print with the shares up 29% year-to-date.
