Oppenheimer Maintains Outperform, $35 PT on HollyFrontier Corp

In a published report, Oppenheimer reiterates its Outperform rating and $35 price target on HollyFrontier Corp.

on the company's financial flexibility and market niches. According to Oppenheimer, “HFC earnings have benefited from strong margins, especially this year on record high crude cost differentials, which have narrowed sharply in recent weeks, but remain significantly above their historical averages. We expect the differentials to reflect transportation costs of landlocked US crude to the Gulf Coast. HFC has unparalleled financial flexibility, which has been its hallmark and will enable it to take advantage of investment opportunities and enhance return to shareholders.” HFC closed at $24.04 per share on Tuesday.