Oppenheimer Raises PT on Valero Energy (VLO) to $55

January 30, 2013 12:14 PM EST
Get Alerts VLO Hot Sheet
Price: $66.07 --0%

Rating Summary:
    18 Buy, 10 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 28 | Down: 28 | New: 23
Trade VLO Now!
Join SI Premium – FREE
Oppenheimer raised is price target on Outperform-rated Valero Energy (NYSE: VLO) from $40 to $55 following strong Q4 results and a boosted buyback and dividend.

"We are raising our 12-18-month PT for VLO to $55 from $40 to reflect continued strong industry fundamentals of wide crude discounts, cheap natural gas, declining regulatory spending and growing refined product exports," analyst Fadel Gheit states. "Further improvement in industry conditions could boost earnings, cash flow and valuation. The completion of two major hydrocracker projects could reduce CAPEX by $1B and generate $1.1B of EBITDA annually. VLO intends to use the bulk of its free cash flow to repurchase shares and grow dividends, which should boost its valuation. Our new estimates reflect current guidance and commodity prices."

For an analyst ratings summary and ratings history on Valero Energy click here. For more ratings news on Valero Energy click here.

Shares of Valero Energy closed at $43.77 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Dividend, Crude Oil, Earnings

Add Your Comment