UPDATE: Imperial Capital Initiates HollyFrontier Corporation at Outperform on Advantageous Locations

Imperial Capital initiated coverage on HollyFrontier Corporation

with an Outperform rating and a a $50 price target. Imperial Capital noted, "Given that its refineries located in the Rocky Mountains, the Plains states, and southwestern regions of the U.S., HFC benefits from processing a slate of price advantaged crude. The company also serves niche refined product markets across the southwest and Rocky Mountain regions, which provide superior margins relative to the Gulf Coast. HollyFrontier Corporation closed at $41.77 on Thursday.