UPDATE: JPMorgan Downgrades Holly Energy Partners (HEP) to Neutral

April 27, 2021 4:54 AM EDT
Get Alerts HEP Hot Sheet
Price: $19.11 --0%

Rating Summary:
    6 Buy, 2 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 25 | New: 10
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(Updated - April 27, 2021 5:03 AM EDT)

JPMorgan analyst Jeremy Tonet downgraded Holly Energy Partners (NYSE: HEP) from Overweight to Neutral with a price target of $21.00 (from $19.00).

The analyst comments "HEP: value proposition intact but moving to sidelines following run, downgrade to N. We continue to believe HEP possesses strong fundamentals with healthy FCF generation and clear visibility to delevering to its 3.0-3.5x target. Furthermore, HEP possesses highly stable cash flows with ~76% of 2020 revenue backed by MVC that possess limited contract expirations over the next few years. However, following YTD outperformance (49% total return vs 29% for AMZ), we now see more compelling opportunities elsewhere in our coverage."

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

Shares of Holly Energy Partners closed at $20.63 yesterday.


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