Market Overview

UPDATE: Imperial Capital Initiates Valero Energy at In-Line

Related VLO
UPDATE: Deutsche Bank Downgrades Valero Energy
Deutsche Bank Cuts Targets 7% On Raft Of Oil Stocks
Oil Refiners Tumble, Producers Rally on Export Ruling (Fox Business)

Imperial Capital initiated coverage on Valero Energy (NYSE: VLO) with an In-line rating and a $33 price target.

Imperial Capital noted, " Among the independent refiners, VLO's system is the most geographically diverse, spread across the Gulf and West Coasts, Mid-Continent, eastern Canada, and the U.K. Its refining hardware is also among the most sophisticated, which enables VLO to process price-advantaged sour and heavier crude streams. … The lower P/E multiple versus historic levels reflects the expansion in refining margins and profitability due to refiners' ability to process price-advantaged domestic crudes."

Valero Energy closed at $29.58 on Thursday.

Latest Ratings for VLO

DateFirmActionFromTo
Dec 2014Deutsche BankDowngradesBuyHold
Dec 2014Simmons & Co.DowngradesOverweightNeutral
Nov 2014Deutsche BankMaintainsBuy

View More Analyst Ratings for VLO
View the Latest Analyst Ratings

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

 

Related Articles (VLO)

Around the Web, We're Loving...

Get Benzinga's Newsletters