Goldman Sachs Downgrades Valero Energy (VLO) to Neutral

Goldman Sachs downgraded Valero Energy (NYSE: VLO) from Buy to Neutral with a price target of $73.00.

Analyst Neil Mehta notes shares are up 17.5% versus XLE -15.7% since February 12, 2015. They now see risk/reward as more balanced and step aside ahead of the OPEC meeting, which could result in further compression of the light-heavy differential.

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 $65.55 yesterday.

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