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Fly News Breaks for February 21, 2020
Feb 21, 2020 | 07:30 EDT
JPMorgan analyst Phil Gresh upgraded HollyFrontier to Neutral from Underweight with an unchanged price target of $52. The analyst cites valuation for the upgrade as he now sees 26% total return potential. With a 10% free cash flow yield and around one-times consolidated leverage on 2020 estimates, the "basic mathematical equation is now looking more balanced," Gresh tells investors in a research note.
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