Barclays Adjusts Estimates and PT on Alon USA Energy (ALJ); Prefers Delek (DK) Among Small Refiners
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Price: $13.32 --0%
Rating Summary:
2 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
2 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Barclays maintains an 'Underweight' on Alon USA Energy (NYSE: ALJ) price target of $8.00.
Analyst, Paul Y. Cheng, said, "We believe ALJ's 1Q12 result will have a negative impact on the shares' near-term performance as it once again highlights the company's weak refining competitive position."
Alon's quarterly results would have been better if the hedging loss (of $14.3 mln or $0.17/share) was omitted, but execution in California was rough regardless. Cheng feels that despite the year-to-date underperformance by ALJ's stock, this trend may continue, citing a lack of near-term catalysts. Cheng prefers Delek (NYSE: DK) over ALJ in the small refiners category.
Barclays chops FY12 EPS estimate from $1.40 to $0.95, but raises FY13 from $0.40 to $0.70.
For an analyst ratings summary and ratings history on Alon USA Energy click here. For more ratings news on Alon USA Energy click here.
Shares of Alon USA Energy closed at $8.17 yesterday.
Analyst, Paul Y. Cheng, said, "We believe ALJ's 1Q12 result will have a negative impact on the shares' near-term performance as it once again highlights the company's weak refining competitive position."
Alon's quarterly results would have been better if the hedging loss (of $14.3 mln or $0.17/share) was omitted, but execution in California was rough regardless. Cheng feels that despite the year-to-date underperformance by ALJ's stock, this trend may continue, citing a lack of near-term catalysts. Cheng prefers Delek (NYSE: DK) over ALJ in the small refiners category.
Barclays chops FY12 EPS estimate from $1.40 to $0.95, but raises FY13 from $0.40 to $0.70.
For an analyst ratings summary and ratings history on Alon USA Energy click here. For more ratings news on Alon USA Energy click here.
Shares of Alon USA Energy closed at $8.17 yesterday.
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