Barclays Reiterates a 'Overweight' on Valero Energy (VLO); Raising Estimates After Interim Update

Barclays reiterates a 'Overweight' on Valero Energy (NYSE: VLO) price target of $31.00.

Analyst, Paul Y. Cheng, said, "As a result of the updated guidance, we adjust our 1Q12 and 2012 EPS estimates to $0.25 and $3.35 from $0.12 and $3.20, respectively."

Cheng believes (EV/EBITDA) valuation, price to book and EV/daily barrel remains compelling vs. recent drop in the stock in March compared to peer group.

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

Shares of Valero Energy closed at $23.36 yesterday.

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