Thursday December 20, 05:47 PM
Holly upgraded to "buy" - update
NEW YORK, December 20 (newratings.com) - Analyst Mohan Mandrekar of UBS (Virt-X: UBSN.VX - news) upgrades Holly (ticker: HOC) from "neutral"
to "buy," while raising his estimates for the company. The 12-month target price has been reduced from $69 to $62.
In a research note published this morning, the analyst mentions that the decline of 23% in the company's share price since September has been overdone and presents an attractive investment opportunity. Holly (NYSE: HOC - news) is currently expanding its feedstock capability and expanding capacity at both of its refineries, the analysts say. Holly intends to sell-off the Las Vegas product pipeline, post construction, to Holly Energy Partners. The EPS estimates for 2007 and 2008 have been raised from $5.65 to $5.77 and from $3.72 to $4.04, respectively.
© 2007 New Ratings
Click here for more articles from NewRatings.com
|
|
|
Send Article by Email
