UPDATE: UBS Upgrades HollyFrontier (HFC) to Buy; Sell-Off Provides Opportunity, Besides, Yield & Balance Sheet Help on Defense

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(Updated - June 1, 2012 10:41 AM EDT)

UBS upgraded HollyFrontier (NYSE: HFC) from Neutral to Buy. PT maintained at $35.

Analyst, Craig Weiland, said, "We're upgrading HFC to Buy following an 11% sell-off in the shares since mid-February. We see moderate upside to shares from the current level and view HFC’s shareholder yield and cash position as defensive elements to shares."

For an analyst ratings summary and ratings history on HollyFrontier click here. For more ratings news on HollyFrontier click here.

Shares of HollyFrontier closed at $29.48 yesterday, with a 52 week range of $21.13-$77.80.

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