Buy Valero Energy Up to $40 – Analyst Blog
Source: http://www.zacks.com/stock/news/18004/Buy+Valero+Energy+Up+to+%2440+-+Analyst+BlogPosted on Friday, March 6th, 2009 | In Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Our continued favorable view for Valero Energy Corp. (VLO) shares reflects the company’s strong financial health, investment-grade credit rating, balanced refining portfolio and leverage to the still-wide crude quality spreads.
We believe that these attributes position Valero to navigate the current cyclical downturn much better than many of its independent refining peers. Our Buy recommendation remains unchanged, though we have lowered our estimates and price objective.
Our new 2009 EPS estimate is $3.08, down from $3.38 before, reflecting the challenging refining margin environment. We have also introduced our 2010 EPS estimate at $3.65.
Read the full analyst report on “VLO”
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