UBS Maintains a 'Buy' on Valero Energy (VLO); Quietly Planning to Cash in on Retail
Tweet Send to a FriendGet Alerts VLO Hot Sheet
Price: $41.20 +4.01%
Rating Summary:
13 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
13 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade VLO Now!
UBS maintains a 'Buy' on Valero Energy (NYSE: VLO) price target of $31.00 (from $26.00).
Analyst, Craig Weiland, said, "Overshadowing strong 2Q results, VLO revealed it is considering a separation of its U.S. and Canadian retail segments from the remainder of the company. Clarity on what form the separation will take (i.e., tax free spin, IPO, straight sale) will likely occur in the next few months; however, VLO noted it is focused on identifying the most tax-efficient distributable form to shareholders. A private letter ruling from the IRS will be sought and management has placed a 6 month timeframe on the separation occurring—seemingly pegging a separation by 1Q13."
FY12 EPS estimate lowered from $3.98 to $3.91 and FY13 from $3.90 to $3.83.
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 $27.50 yesterday, with a 52 week range of $16.40-$28.68.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Craig Weiland, said, "Overshadowing strong 2Q results, VLO revealed it is considering a separation of its U.S. and Canadian retail segments from the remainder of the company. Clarity on what form the separation will take (i.e., tax free spin, IPO, straight sale) will likely occur in the next few months; however, VLO noted it is focused on identifying the most tax-efficient distributable form to shareholders. A private letter ruling from the IRS will be sought and management has placed a 6 month timeframe on the separation occurring—seemingly pegging a separation by 1Q13."
FY12 EPS estimate lowered from $3.98 to $3.91 and FY13 from $3.90 to $3.83.
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 $27.50 yesterday, with a 52 week range of $16.40-$28.68.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
- Compass Point Boosts Numbers on RLJ Lodging Trust (RLJ)
- Needham & Company Remains on Sidelines wth Applied Materials (AMAT) Post Q2
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, IPOsRelated Entities
UBS
Login with Facebook
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!
