Deutsche Bank Downgrades Valero (VLO) to Hold
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Deutsche Bank downgrades Valero (NYSE: VLO) from Buy to Hold and lowers their price target to $30.
The firm also lowered 2009E EPS from $4.50 on weakening demand, downside potential and a cut to thier heavy-light spread forecast.
Valero Energy Corporation operates as a crude oil refining and marketing company in the United States and internationally.
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