Imperial Capital Lowers Price Target On Vertex Energy On Lowered Estimates Due To Oil Price Sensitivity

In a report published Tuesday, Imperial Capital analyst Scott Levine reiterated an Outperform rating on
Vertex Energy
VTNR
, but lowered the price target from $8.50 to $5.50. In the report, Imperial Capital noted, “We are maintaining our Outperform rating and lowering our one-year price target to $5.50 from $8.50. Our new target is 46% above the recent share price. VTNR is a leading regional provider of oil recycling services within a growing number of U.S. markets. We think VTNR shares offer attractive potential for appreciation, given prospects for strong growth and margin expansion, driven by organic initiatives and benefits expected to be harvested from recent and prospective acquisitions.” Vertex Energy closed on Monday at $3.78.

Posted In: imperial capitalScott LevineAnalyst ColorPrice TargetAnalyst Ratings