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UPDATE: Deutsche Bank Upgrades Alon USA Energy on Bullish 2014 Outlook

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In a report published Monday, Deutsche Bank analyst Paul Sankey upgraded the rating on Alon USA Energy (NYSE: ALJ) from Hold to Buy, and raised the price target from $15.00 to $18.00.

In the report, Deutsche Bank noted, “Since our ‘Diamond Age' (Oct 2010) refining upgrade, & subsequent ‘Future of US Oil' series, broadly speaking our roadmap of market development has been followed, but faster than we anticipated. First phase, the stunning production growth in natural gas and light sweet oil, giving US refiners a huge competitive advantage and oil product export growth. That is a long-term secular bull story. The second, interim phase of infrastructure bottlenecks and de-bottlenecking added super-super normal profit and volatility. We are in the third phase, of outright over-supply of light sweet crude & the limitation of the crude export ban. Target $30/bbl Brent-WTI. Upgrade PSX, VLO, DK, ALJ.”

Alon USA Energy closed on Friday at $13.93.

Latest Ratings for ALJ

DateFirmActionFromTo
Aug 2016Piper JaffrayMaintainsUnderweight
Jul 2016BarclaysUpgradesUnderweightEqual-weight
Jun 2016JP MorganMaintainsNeutral

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Posted-In: Deutsche Bank Paul SankeyAnalyst Color Upgrades Analyst Ratings

 

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