Goldman Sachs Starts CVR Energy (CVI) at Neutral

Goldman Sachs removed their NR designation on CVR Energy (NYSE: CVI) and resumed coverage with a Neutral rating and $34 price target.

The analyst comments, "CVR Energy is now 82% owned by Icahn Enterprises, L.P., which is led by Carl C. Icahn. On July 26, CVR announced that the 60-day sale process to solicit acquisition proposals from third parties to acquire the stock and assets of CVI as an entity had expired without receipt of a bona fide offer. Icahn Enterprises has indicated that it does not intend to sell CVI and will focus on operating its business for the benefit of shareholders."

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

Shares of CVR Energy closed at $28.25 yesterday.

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