Jefferies Starts Valero Energy (VLO) and Valero Energy (VLP) at Buy

August 23, 2016 7:17 AM EDT
Get Alerts VLO Hot Sheet
Price: $79.80 -1.98%

Rating Summary:
    22 Buy, 7 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 19 | New: 35
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Jefferies initiates coverage on Valero Energy (NYSE: VLO) with a Buy rating and a price target of $66 and Valero Energy Partners (NYSE: VLP) with a Buy rating and a price target of $53.

Analyst Corey Goldman commented, "Valero is the world’s largest independent refiner, operating ~16% of total US refining capacity, 55% of which is located along the Gulf Coast. VLO’s logistics-oriented MLP, VLP, has lifted cash payouts at a ~30% CAGR since its 2013 IPO & mgmt has articulated plans for 25% annual growth through ‘17. While both entities have underperformed respective peers YTD by 5.7% & 1.7% YTD, we believe each presents a favorable risk/reward at current levels."

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 $54.43 yesterday.

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