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CVI

CVR Energy

$42.03

-0.08 (-0.19%)

05:20
11/06/18
11/06
05:20
11/06/18
05:20

CVR Energy downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs analyst Neil Mehta downgraded CVR Energy to Neutral and lowered his price target for the shares to $45 from $47. Following the recent outperformance of the shares, the analyst sees better investment opportunities elsewhere in the sector. He cites valuation for the downgrade to Neutral.

CVI CVR Energy
$42.03

-0.08 (-0.19%)

10/03/18
LEHM
10/03/18
NO CHANGE
LEHM
Barclays upgrades Phillips 66, downgrades CVR Refining to Underweight
Barclays analyst Paul Cheng upgrades Phillips 66 (PSX) to Equal Weight from Underweight while lowering his price target for the shares to $128 from $133. The analyst cites valuation for the upgrade, noting the stock is up 13% year-to-date while peers are up 30%. Cheng coupled the upgrade with a downgrade of CVR Refining (CVRR) to Underweight from Equal Weight. The analyst also cut his price target for the shares to $20 from $24. Earlier this year, CVR Energy (CVI) purchased a number of CVR Refining units and the parent plus affiliates now own around 85% of the partnership, Cheng tells investors in a research note. According to the partnership agreement, once the general partner and affiliates own more than 80% of CVR Refining common units, CVR Energy can call the remaining units at the higher of the market price or the last 20 days' moving average, the analyst adds. As such, he sees little reason to own CVR Refining specifically, saying the call provision "essentially eliminates any upside to the units."
10/31/18
SBSH
10/31/18
INITIATION
Target $48
SBSH
Buy
CVR Energy initiated with a Buy at Citi
Citi started CVR Energy with a Buy rating and $48 price target.
10/31/18
SBSH
10/31/18
INITIATION
Target $48
SBSH
Buy
Citi sees CVR Energy as takeover target, starts with Buy rating
Citi analyst Prashant Rao started CVR Energy (CVI) with a Buy rating and $48 price target. The company could be a takeover target, "sufficiently proximate to justify a premium in shares today," Rao tells investors in a research note. He says that as the parent of CVR Refining (CVRR), CVR Energy "comprises two Midwest refineries that are highly complex, with access both to cost-advantaged feedstocks and a strong Midwest refined products market." The analyst notes that his $48 target implies a "lower-end" EBITDA take-out multiple and that CVR Energy has been open about potential deals.
10/31/18
10/31/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. CVR Energy (CVI) initiated with a Buy at Citi. 2. Cheniere Energy (LNG) reinstated with an Overweight at JPMorgan. 3. Eidos Therapeutics (EIDX) initiated with a Buy at Roth Capital. 4. NV5 Global (NVEE) and GSE Systems (GVP) were initiated with a Buy at Maxim. 5. Nexa Resources (NEXA) initiated with an Outperform at National Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

FCAU

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CHH

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APTX

Aptinyx

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PLXP

PLx Pharma

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NBRV

Nabriva Therapeutics

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WORX

SCWorx

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ARNC

Arconic

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  • 26

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ICPT

Intercept

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-0.42 (-0.38%)

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  • 18

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CNMD

Conmed

$71.94

0.73 (1.03%)

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  • 06

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ACB

Aurora Cannabis

$7.04

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, TLRY

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$76.46

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ACB

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TLRY

Tilray

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CVSI

CV Sciences

$0.00

(0.00%)

CRON

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$21.28

0.46 (2.21%)

CANN

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$0.00

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CNTTF

CannTrust Holdings

$0.00

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APHA

Aphria

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0.49 (5.39%)

MLCPF

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CGC

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$47.54

1.49 (3.24%)

IGC

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ICPT

Intercept

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-0.42 (-0.38%)

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  • 18

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ICPT

Intercept

$110.77

-0.42 (-0.38%)

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  • 18

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NBLX

Noble Midstream

$32.09

-0.04 (-0.12%)

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  • 19

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FCAU

Fiat Chrysler

$14.75

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XPO

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FDX

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CTB

Cooper Tire

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CTB

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  • 14

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XPO

XPO Logistics

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  • 20

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OPTN

Optinose

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SXT

Sensient

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CRSP

Crispr Therapeutics

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CEVA

Ceva

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PLUG

Plug Power

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CTB

Cooper Tire

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0.66 (1.98%)

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ARAV

Aravive

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0.2 (4.21%)

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