Barclays Maintains an 'Equalweight' on Valero Energy (VLO); Q2 Preview

Barclays maintains an 'Equalweight' on Valero Energy (NYSE: VLO) price target of $30.00.

Barclays analyst says, "We fine-tune our EPS estimates for VLO following final mark-to-market on our commodity price deck. We now forecast 2Q11, 3Q11, and 4Q11 EPS at $1.39, $0.58, and $0.77 from $1.38, $0.60, and $0.78 previously...We expect VLO to report 2Q11 EPS of $1.39, compared to consensus expectations of $1.48 per share. Our 2Q11 estimate does not include any inventory or hedging gain or loss. 2011 and 2012 estimates assume the pending acquisition of CVX's European R&M operation to be closed by early July...We expect refining to report a profit of $1,310 million, compared to $921 million in 2Q10 and $276 mm in 1Q11."

For more ratings news on Valero Energy click here and for the rating history of Valero Energy click here.

Shares of Valero Energy closed at $26.89 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Barclays sees improved biofuel market fundamentals
• Freedom Broker Upgrades Serve Robotics (SERV) to Buy
• Powell Industries (POWL) PT Lowered to $235 at Cantor Fitzgerald