UPDATE: Wolfe Research Downgrades HollyFrontier (HFC) to Underperform
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Wolfe Research analyst Sam Margolin downgraded HollyFrontier (NYSE: HFC) from Peerperform to Underperform with a price target of $31.00.
The analyst comments " We are downgrading HFC shares from Peer Perform to Underperform, with a $31 price target. Our downgrade is based on a cautious industry outlook, and within the sector we prefer stocks with more capital returns capacity over the coming periods. Put another way, against an Underweight sector view, we are focused on more defensive stocks"
Shares of HollyFrontier closed at $31.20 yesterday.
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