Market Overview

UPDATE: Dahlman Rose Reiterates Buy Rating, Raises PT on Western Refining on Robust Balance Sheet

Related WNR
10 Notable Stocks Trading Ex-Dividend Thursday, October 20
5 Biggest Price Target Changes For Wednesday
Adding To Refinery Exposure: Valero And Western Refining (Seeking Alpha)

In a report published Friday, Dahlman Rose reiterated its Buy rating on Western Refining (NYSE: WNR), and raised its price target from $32.00 to $42.00.

Dahlman Rose noted, “WNR reported adjusted EBITDA of $298MM, ahead of our $278MM estimate. During the quarter, Midland crude differentials expanded to a peak of over $14/bbl below WTI, which itself saw discounts of over $20/bbl against Brent. With the completion of the Longhorn reversal and Sunoco's West Texas Gulf lines, we do not consider it likely this crude environment can be repeated within the intermediate term.”

Western Refining closed on Thursday at $35.89.

Latest Ratings for WNR

Oct 2016CitigroupUpgradesNeutralBuy
Oct 2016BarclaysDowngradesOverweightEqualweight
Sep 2016Credit SuisseMaintainsOutperform

View More Analyst Ratings for WNR
View the Latest Analyst Ratings

Posted-In: Dahlman RoseAnalyst Color Price Target Analyst Ratings


Related Articles (WNR)

View Comments and Join the Discussion!