Soleil Securities Upgrades Western Refining (WNR) to Buy
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Soleil Securities upgrades Western Refining (NYSE: WNR) from Hold to Buy. Price target $10.
Soleil analyst says, "Upgrade to Buy from Hold on a price basis as the stock is down 52% month-to-date (vs. a 25% average decline for the refiner peer group and a 3% drop in the S&P 500). Raising '09E to $1.35 from $1.10 due to an improvement in the Phoenix market and lower interest and maintenance expenses but no change '10E$1.00...The stock is currently trading at 3.9X09E EV/EBITDA vs. the peer group average of 4.9X and the historical trading range of 4-6X."
To see more analyst ratings on WNR Click Here.
Western Refining, Inc. (Western Refining) is an independent crude oil refiner and marketer of refined products, and also operates service stations and convenience stores.
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