Wells Fargo Downgrades Delek US (DK) to Equal Weight
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Wells Fargo analyst Roger Read downgraded Delek US (NYSE: DK) from to Equal Weight with a price target of $35.00.
The analyst comments "DK possesses the largest percentage throughput exposure to Permian-priced crudes, which may create headwinds in 2020 and is consistent with our equal weight rating. Its MLP subsidiary offers additional growth while its retail ops offer consistent performance. Our price target is based on a sum-of-the-parts analysis on our 2020E EBITDA estimates by segment."
Shares of Delek US closed at $32.73 yesterday.
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