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Valero Energy (VLO) Target Priced Lifted at Imperial Capital Ahead of Q4 Print; 'In-Line' Rating Maintained

January 9, 2014 10:56 AM EST Send to a Friend
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Price: $49.97 +0.24%

Rating Summary:
    18 Buy, 9 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 35 | New: 7
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Imperial Capital analyst Ann Kohler bumped her price target on Valero Energy (NYSE: VLO) from $41 to $49 ahead of Q4 results, but maintained an In-Line rating.

"The increase in our price target reflects our revised 2014 EBITDA estimate and year-end 2013 balance sheet items following the initial public offering of Valero Energy Partners LP, its logistics-focused master limited partnership, and its remaining interest in CST Brands, Inc," Kohler comments.

The analyst sees a strong Q4 report on deck: "Due to improved crude price differentials, and thus expectations of refinery throughput at the top of management’s guidance, we estimate that VLO will report adjusted 4Q13 income of $0.97, up from our previous $0.60 estimate, when the company releases 4Q13 results on 1/29/14. During 4Q13, Valero successfully completed the initial public offering of Valero Energy Partners LP (VLP), its logistics-focused master limited partnership, and its remaining interest in CST Brands, Inc."

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 $51.86 yesterday.




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