UPDATE - Barclays Upgraded Delek US (DK) to 'Overweight' on Improved Outlook

UPDATE - Barclays upgraded Delek US (NYSE: DK) from Equalweight to Overweight, price target raised from $14 to $18.

Analyst, Paul Y. Cheng, said, "Our improved outlook is based on growing marketing and supply contribution valued at a premium to base business refining earnings, and the transition to 100% WTI linked feedstock over the next several years...While we think DK stands to benefit from incremental advantaged feedstock, HFC asset quality, geographic diversity, and presence in advantaged product markets warrants a valuation premium, in our view."

Barclays raises FY12 EPS estimate from $1.10 to $2.35 and FY13 established at $2.25.

To see more ratings on DK, Click Here

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