Simmons Raises Price Target on Delek US Holdings (DK) to $10; Remains Neutral
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Simmons maintained a Neutral rating on Delek US Holdings (NYSE: DK), and raised the price target to $10.00 (from $9.00), following the company's 2Q earnings report. Simmons adjusted its 3Q EPS estimates for the company to ($0.05), up from ($0.17), compared to the consensus estimates of ($0.04).
Analyst Jeff Dietert commented, "Management is working diligently in an attempt to enhance shareholder value, reviewing monetization options for the Retail segment and considering alternatives for purchasing the remaining 52% of ALJ that DK does not already own. Efforts, however, are confronted with an extremely challenging refining margin environment that is putting downward pressure on earnings and cash flow prospects for both DK and ALJ. While we expect DK’s strategic initiatives to positively impact the shares over the long-term (reducing 4 public companies down to 2, cutting costs, enhancing crude purchasing power), we believe weakness in refining margins will be an overwhelming consideration in the near-term."
Shares of Delek US closed at $13.51 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Skyworks Solutions (SWKS) PT Raised to $105 at Oppenheimer Following 1Q Report
- Carter's (CRI) PT Lowered to $105 at Oppenheimer; Reiterates Outperform
- Union Pacific (UNP) PT Raised to $120 at Aegis Capital Following Solid 4Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesCrude Oil, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!