Barclays Maintains an 'Equalweight' on HollyFrontier (HFC); Good Quarter, but no Upside Surprise
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Price: $48.73 -0.47%
Rating Summary:
11 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
11 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade HFC Now!
Barclays maintains an 'Equalweight' on HollyFrontier (NYSE: HFC) price target of $37.00.
Barclays analyst says, "We think HFC 3Q11 result will have a neutral to negative impact on the shares' near-term performance. As the final major independent refiner to report, we think the strong outperformance by other competitors such as VLO, Marathon Petroleum (NYSE: MPC), and TSO will likely dampen the market's reaction to HFC's good, but not great quarter. As the poster child of the WTI/Brent differential, we believe the market was expecting a lot more. HFC exceeded consensus EPS by only 3% compared to the MPC at 25%, Tesoro (NYSE: TSO) at 20%, and Valero's (NYSE: VLO) positive earnings surprise of 9%." (Barclays lowers FY11 EPS estimate from $7.60 to $7.45, but raises FY12 from $6.05 to $6.15)
For an analyst ratings summary and ratings history on HollyFrontier click here. For more ratings news on HollyFrontier click here.
Shares of HollyFrontier closed at $32.57 yesterday, with a 52 week range of $24.25-$77.80.
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Barclays analyst says, "We think HFC 3Q11 result will have a neutral to negative impact on the shares' near-term performance. As the final major independent refiner to report, we think the strong outperformance by other competitors such as VLO, Marathon Petroleum (NYSE: MPC), and TSO will likely dampen the market's reaction to HFC's good, but not great quarter. As the poster child of the WTI/Brent differential, we believe the market was expecting a lot more. HFC exceeded consensus EPS by only 3% compared to the MPC at 25%, Tesoro (NYSE: TSO) at 20%, and Valero's (NYSE: VLO) positive earnings surprise of 9%." (Barclays lowers FY11 EPS estimate from $7.60 to $7.45, but raises FY12 from $6.05 to $6.15)
For an analyst ratings summary and ratings history on HollyFrontier click here. For more ratings news on HollyFrontier click here.
Shares of HollyFrontier closed at $32.57 yesterday, with a 52 week range of $24.25-$77.80.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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