Market Overview

UPDATE: Imperial Capital Initiates Western Refining at In-Line; Balancing Yield and Growth

Share:
Related WNR
Short Sellers Lay Into Some Of This ETF's Holdings
Stocks Hitting 52-Week Lows
Are WPZ & WMB The Best Energy Sector Dogs For June? (Seeking Alpha)

Imperial Capital initiated coverage on Western Refining (NYSE: WNR) with an In-Line rating and a $28 price target.

Imperial Capital commented, "Due to strong cash flows resulting from its ability to process price-advantaged WTI-based barrels, WNR has materially strengthened its balance sheet over the past two years and is now shifting capital towards growth opportunities across its system and returning cash to shareholders. … Given the El Paso refinery's proximity to the Permian Basin, WNR is actively expanding its crude logistics assets. Although WNR continues to explore strategic alternatives for this asset base, the formation of a logistics-based master limited partnership is dependent upon further growth."

Western Refining closed at $26.17 on Tuesday.

Latest Ratings for WNR

DateFirmActionFromTo
Jun 2016JP MorganDowngradesNeutralUnderweight
Apr 2016Tudor PickeringDowngradesTrimSell
Apr 2016Credit SuisseMaintainsOutperform

View More Analyst Ratings for WNR
View the Latest Analyst Ratings

Posted-In: imperial capitalAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (WNR)

View Comments and Join the Discussion!