Deutsche Bank Upgrades HollyFrontier (HFC) to Buy

Deutsche Bank upgraded HollyFrontier (NYSE: HFC) from Hold to Buy with a price target of $38.00 (from $30.00).

Analyst Ryan Todd said, "Following a year in which HFC underperformed the average refiner (-17% vs. group average -8%), and refining macro (ie. margins) likely only a modest tailwind in 2017, we see attractive leverage to what we see as key themes for the group: RINs relief, corporate tax cuts, widening of narrow inland diffs (ie. Permian), and limited exposure to potential import/export border tax adjustments."

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 $33.57 yesterday.

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