Mizuho Securities Starts Par Pacific (PARR) at Buy

October 5, 2016 4:17 PM EDT
Get Alerts PARR Hot Sheet
Price: $13.50 -0.74%

Rating Summary:
    6 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 28 | New: 8
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Mizuho Securities initiates coverage on Par Pacific (NYSE: PARR) with a Buy rating and a price target of $20.00.

Analyst Timothy Rezvan commented, "It is a good time to put fresh eyes on a beaten-down mini-integrated amid a trough in global distillate pricing. Par Pacific diversified its downstream exposure through July's acquisition of the 18 mb/d Newcastle, WY refinery. Its upstream segment should benefit from increased activity from Laramie, amid resurgent natural gas. Catalysts for Par include potential IPOs of Laramie or its Logistics segment, resurgent natural gas prices, a recovery in crack spreads amid a declining distillate inventory glut, and additional accretive acquisitions."

For an analyst ratings summary and ratings history on Par Pacific click here. For more ratings news on Par Pacific click here.

Shares of Par Pacific closed at $13.80 yesterday.

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