UPDATE: H.C. Wainwright Starts Vertex Energy (VTNR) at Buy, Favors Move into Higher Value Offerings

(update comment)

H.C. Wainwright analyst Amit Dayal initiates coverage on Vertex Energy (NASDAQ: VTNR) with a Buy rating and a price target of $4.00.

The analyst comments "Vertex Energy Inc. is a, Houston, TX, headquartered refiner and marketer of specialty hydrocarbon products. The company primarily recycles used motor oil (UMO) and other petroleum by-products. The company has a presence across the entire value chain of petroleum recycling including collection, aggregation, transportation, storage, re-refinement, and sales of feedstock and re-refined products. With a processing capacity of approximately 115M gallons annually, Vertex delivers its products in 15 states, primarily covering the Gulf Coast, Midwest, and Mid-Atlantic regions. Revenue and profit growth for the company is expected to come from: (1) inflection in demand for low sulfur diesel; (2) allocation of capacity towards higher grade Group II and Group III base oils, and niche lubricants; and (3) expansion of its direct UMO collections operations."

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

Shares of Vertex Energy closed at $1.57 yesterday.

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