Oppenheimer Maintains an 'Outperform' on HollyFrontier (HFC); Raising PT on Improving Outlook
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Price: $44.22 -0.09%
Rating Summary:
11 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
11 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade HFC Now!
Oppenheimer maintains an 'Outperform' on HollyFrontier (NYSE: HFC) price target raised from $35 to $45.
Oppenheimer analyst said, "We are raising our price target to reflect improved industry fundamentals and company outlook. Refinery closures and record exports have tightened supplies and improved refining margins, despite continued weak demand. HFC enjoys unparalleled cost advantages because of its ability to use cheaper inland Canadian heavy and Mid-Con light sweet crude, where production growth is expected to exceed pipeline capacity expansion and keep the discount to Brent crude significantly above the 5-year average. We expect HFC to generate $1B of free cash flow this year, which can be used to repurchase 13% of its shares."
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 $35.95 yesterday, with a 52 week range of $21.13-$77.80.
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Oppenheimer analyst said, "We are raising our price target to reflect improved industry fundamentals and company outlook. Refinery closures and record exports have tightened supplies and improved refining margins, despite continued weak demand. HFC enjoys unparalleled cost advantages because of its ability to use cheaper inland Canadian heavy and Mid-Con light sweet crude, where production growth is expected to exceed pipeline capacity expansion and keep the discount to Brent crude significantly above the 5-year average. We expect HFC to generate $1B of free cash flow this year, which can be used to repurchase 13% of its shares."
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 $35.95 yesterday, with a 52 week range of $21.13-$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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