Goldman Sachs Starts CVR Refining (CVRR) at Neutral

Goldman Sachs initiates coverage on CVR Refining (NYSE: CVRR) with a Neutral. PT $37.00.

Analyst Arjun N. Murti comments, "CVR Refining is a variable-distribution refining MLP similar in structure to Alon USA Partners and Northern Tier Energy. The company is a pure-play on Cushing-area refining given its Coffeyville, Kansas and Wynnewood, Oklahoma plants, and, as a result, is highly leveraged to our bullish MidCon refining call. Relative to Buy-rated C-Corp refiners and refining MLPs, CVRR shows less upside, however, which it why we initiate with a Neutral rating."

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

Shares of CVR Refining closed at $30.48 yesterday.

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