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UPDATE: Dahlman Rose Raises PT to $55 on Valero Energy Corporation Following Q4 Beat

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Dahlman Rose maintained Valero Energy Corporation (NYSE: VLO) with a Buy and raised the price target from $42.00 to $55.00.

Dahlman Rose commented, "Yesterday's nearly 13% gain in VLO shares is driven by sustainability in the themes that drove the 4Q beat, as opposed to merely the beat itself. Despite continued softness in domestic demand, crude availability in all of VLO's regions of operation continues to drive margin strength, expanded by the company's ability to source the most advantaged crudes. We maintain our Buy rating and raise our price target to $55, targeting 5x 2013E EV/EBITDA."

Valero Energy Corporation closed at $43.77 on Tuesday.

Latest Ratings for VLO

DateFirmActionFromTo
Aug 2014OppenheimerMaintainsOutperform
Jun 2014JP MorganMaintainsOverweight
May 2014OppenheimerUpgradesMarket PerformOutperform

View More Analyst Ratings for VLO
View the Latest Analyst Ratings

Posted-In: Dahlman RoseAnalyst Color Price Target Analyst Ratings

 

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