Roth Capital Starts Vertex Energy (VTNR) at Neutral
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Roth Capital initiates coverage on Vertex Energy (NASDAQ: VTNR) with a Neutral rating.
Analyst Gerry Sweeney commented, "We initiate Vertex with a Neutral rating. Volatile oil markets have made managing spreads in the used oil collections and re-refining market extremely challenging leading to capital raises and asset sales. However, we believe a turnaround is emerging driven by: 1) stability in commodity oil markets; 2) improved asset utilization; 3) broadening end markets; and, 4) price discipline in the collections market. We look for one to two quarters of performance before becoming more positive."
Shares of Vertex Energy closed at $1.14 yesterday.
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