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Fly News Breaks for October 19, 2018
MPC, VLO
Oct 19, 2018 | 05:18 EDT
Goldman Sachs analyst Neil Mehta downgraded Valero Energy (VLO) to Sell and lowered his price target for the shares to $102 from $124. The analyst sees we see 18% downside to 2019 consensus earnings estimates consensus levels given the company's less leverage to inland crude differentials versus tightening LLS-Maya trends and his lowered outlook for gasoline margins in the next twelve months. Mehta sees a better risk/reward profile on shares of Marathon Petroleum (MPC), which is on his firm's Americas Conviction List with a Buy rating.