Loading...
Loading...
Valero Energy Corp.
VLO will benefit from widening spread between light and heavy crude oil and an improved outlook, an analyst said Tuesday.
JP Morgan's Phil Gresh upgraded Valero to Overweight, from Neutral and raised his target nearly 4 percent to $56 a share.
At the same time Gresh downgraded Marathon Petroleum Corp.
MPC to Neutral from Outperform, suggesting its recent share price has been "frothy."
Also getting a downgrade to Neutral from Gresh Tuesday: Cenovus Energy (CVE).
Gresh reiterated a Neutral rating on both Exxon Mobil Corp.
XOM and Chevron Corp.
CVX, although he raised his target 5.4 percent on Exxon to $97 and by a similar percentage on Chevron to $118.
Maintaining an Overweight rating on Phillips 66
PSX, Gresh cut his target on the company to $74, from $89.
The analyst also remained Neutral on both HollyFrontier Corp.
HFC and Tesoro Corp.
TSO but cut his target on Holly by 11.6 percent to $38 and by 9 percent on Tesoro to $80 a share.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in