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ANDV

Andeavor

$100.56

1.53 (1.55%)

, MPC

Marathon Petroleum

$73.11

1.29 (1.80%)

13:20
03/31/18
03/31
13:20
03/31/18
13:20

Oil refiners primed for profits, Barron's says

The outlook for companies that turn crude oil into gasoline has looked better and demand for refining is poised to grow faster than supply in the years ahead, leading to a surge in profits and share prices across the industry, Jack Hough writes in this week's edition of Barron's. Refiners include Andeavor (ANDV), Marathon Petroleum (MPC), Philips 66 (PSX) and Valero (VLO), the report notes. Reference Link

ANDV

Andeavor

$100.56

1.53 (1.55%)

MPC

Marathon Petroleum

$73.11

1.29 (1.80%)

PSX

Phillips 66

$95.92

1.59 (1.69%)

VLO

Valero

$92.77

2.49 (2.76%)

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ANDV Andeavor
$100.56

1.53 (1.55%)

02/14/18
SBSH
02/14/18
UPGRADE
Target $132
SBSH
Buy
Andeavor upgraded to Buy from Neutral at Citi
Citi analyst Prashant Rao upgraded Andeavor to Buy after taking over coverage of the name. The analyst sees an "execution/growth story with the best risk/return profile of the group." He names Andeavor his top pick in North American Refiners. Rao raised his price target for the shares to $132 from $126.
01/22/18
SBSH
01/22/18
INITIATION
Target $126
SBSH
Neutral
Andeavor resumed with a Neutral at Citi
Citi analyst Faisel Khan resumed coverage of Andeavor with a Neutral rating and $126 price target. The analyst believes the valuation currently reflects the company's "strong fundamental outlook."
03/14/18
COWN
03/14/18
NO CHANGE
COWN
Tailwinds outstrip headwinds in refining outlook, says Cowen
Cowen analyst Sam Margolin said he has a constructive refining outlook despite the current headwinds that include increased China capacity and a Brent/WTI compression. The analyst said the second half of the year should see those headwinds pass and said outside of global demand growth, MARPOL shipping industry regulations are requiring low sulfur marine fuel worldwide, and U.S. Tier-3 gasoline requirements could result in lower octane supply as a consequence of the de-sulferization processes. Margolin favors Valero (VLO), Phillips 66 (PSX), Delek (DK), Marathon (MPC), and Andeavor (ANDV) in the refining space.
03/15/18
WELS
03/15/18
NO CHANGE
Target $162
WELS
Outperform
Andeavor price target lowered to $168 from $162 at Wells Fargo
Wells Fargo analyst Roger Read lowered his price target for Andeavor to $162 from $168 on valuation. The analyst reiterates an Outperform rating on the shares.
MPC Marathon Petroleum
$73.11

1.29 (1.80%)

02/13/18
GSCO
02/13/18
UPGRADE
Target $79
GSCO
Buy
Marathon Petroleum upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Neil Mehta upgraded Marathon Petroleum (MPC) to Buy and raised his price target for the shares to $79 from $78. The analyst sees the company benefiting from rising Western Canadian crude spreads. The analyst also raised his coverage view on Refiners to Attractive from Neutral. He views Suncor (SU) as best positioned in the group.
02/05/18
02/05/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Market Perform from Outperform at Keefe Bruyette, to Neutral from Buy at Citi, to Underperform from Outperform at RBC Capital, to Underweight from Neutral at JPMorgan, and two notches to Underweight from Overweight at Morgan Stanley. 2. Dick's Sporting (DKS) downgraded to Underweight from Equal Weight at Barclays with analyst Matthew McClintock saying sentiment on the shares have improved over the past month under the narrative that Dick's could become the next Best Buy (BBY). 3. Amgen (AMGN) downgraded to Neutral from Overweight at Atlantic Equities with analyst Steve Chesney citing relative valuation and more balanced risk/reward on Repatha's commercial trajectory and the of legacy biologics given biosimilar, branded and IP risks. 4. Marathon Petroleum (MPC) and MPLX (MPLX) were downgraded to Hold from Buy at Jefferies. 5. VMware (VMW) downgraded to Neutral from Buy at Citi with analyst Walter Pritchard saying he sees "no easy deal" for Dell and expects the overhang to cap VMware shares around the $138 level. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/15/18
WELS
03/15/18
NO CHANGE
Target $66
WELS
Market Perform
Marathon Petroleum price target lowered to $66 from $72 at Wells Fargo
Wells Fargo analyst Roger Read lowered his price target for Marathon Petroleum to $66 from $72 on valuation. The analyst reiterates a Market Perform rating on the shares.
PSX Phillips 66
$95.92

1.59 (1.69%)

11/14/17
LEHM
11/14/17
DOWNGRADE
Target $100
LEHM
Underweight
Phillips 66 downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Paul Cheng downgraded Phillips 66 to Underweight while raising his price target for the shares to $100 from $95. The company's diversified business model will likely drive underperformance in a strong margin uptrend environment for U.S. refiners, the analyst contends.
11/14/17
11/14/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. General Electric (GE) downgraded to Sector Perform from Outperform at RBC Capital with analyst Deane Dray saying that he now expects the turnaround at the company to be more protracted than previously anticipated, noting the roadmap laid out by new CEO John Flannery fell short of expectations regarding the scope of the business model/portfolio changes. 2. Phillips 66 (PSX) downgraded to Underweight from Equal Weight at Barclays analyst Paul Cheng saying the company's diversified business model will likely drive underperformance in a strong margin uptrend environment for U.S. refiners. 3. Hilton (HLT) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Stephen Grambling citing the recent outperformance of the stock for the rating change, but he expects consistent double-digit earnings growth on low single-digit RevPAR. 4. PulteGroup (PHM) downgraded to Neutral from Buy at Buckingham with the firm citing recent share strength and raised its price target to $33 from $31. 5. Albemarle (ALB) downgraded to Hold from Buy at Deutsche Bank with analyst David Begleiter downgraded Albemarle (ALB) to Hold from Buy while raising his price target for the shares to $150 from $130. Following a field trip to China, Begleiter believes new lithium processing capacity is coming, which should begin to pressure prices by 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/03/18
FBCO
01/03/18
INITIATION
Target $108
FBCO
Neutral
Phillips 66 initiated with a Neutral at Credit Suisse
Credit Suisse analyst Kristina Kazarian started Phillips 66 with a Neutral rating and $108 price target saying she like its diversification and balanced focus on growth/shareholder returns, but sees limited near-term upside for the stock as she believes short-term headwinds will overshadow long-term secular tailwinds-notably the cash flow inflection as these projects all reach full utilization.
VLO Valero
$92.77

2.49 (2.76%)

11/16/17
STPT
11/16/17
DOWNGRADE
STPT
Hold
Valero downgraded to Hold from Buy at Standpoint Research
01/03/18
FBCO
01/03/18
INITIATION
Target $91
FBCO
Neutral
Valero initiated with a Neutral at Credit Suisse
Credit Suisse analyst Kristina Kazarian started Valero with a Neutral rating and $91 price target as she sees limited incremental upside from here.
02/14/18
SBSH
02/14/18
UPGRADE
Target $114
SBSH
Buy
Valero upgraded to Buy from Neutral at Citi
Citi analyst Prashant Rao upgraded Valero energy to Buy after taking over coverage of the name. The analyst calls Valero his preferred large cap value stock among the North American Refiners. The company is the largest pure-play on favorable U.S. refining fundamentals, Rao tells investors in a research note on the sector. The analyst raised his price target for the shares to $114 from $96.

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Seven Stars Cloud Group

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HNI Corporation

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