Morgan Keegan maintains its Outperform rating on Delek DK and lowers its price target by $5 to $20 a share on preliminary loss posted by the company. Shares are still viewed as an opportunity for value investors.
Morgan Keegan says, " DK released preliminary Q4 EPS results ranging from ($0.10)-($0.20). Crude pricing based on WTI-LLS differentials and locked in the month prior to being processed were cited as
reasons for lower margins than spot pricing implied. ... We don't expect Q1 cost issues given current WTI-LLS spreads, though we sense shares will struggle until additional segment operating metrics and FY12 outlook is given on the Q4 call March 8th. That said, after the lower opening, we think shares represent an attractive opportunity for value investors."
DK closed at $12.77 a share on Thursday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in