UPDATE: Credit Suisse Becomes More Positive on Refiners, Upgrades Par Petroleum (PARR) to Neutral

Credit Suisse analyst Manav Gupta upgraded Par Petroleum (NYSE: PARR) from Underperform to Neutral with a price target of $18.00 (from $11.50) as the analyst becomes more postive on Refiners.

The analyst stated "PARR's management is already doing all it can to stem cash flow bleed. In our opinion, effective vaccine distribution should fix their problems and get them back on track for positive FCF generation. We believe PARR would be one of the biggest beneficiaries of a return of air travel associated with successful distribution of vaccine. PARR midstream volumes are tied to its refining throughout, as utilization rises, midstream earnings will also be revised upwards."

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

Shares of Par Petroleum closed at $15.41 yesterday.

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