There’s a lot to be optimistic about in the Materials sector as 3 analysts just weighed in on Valero Energy Corp (NYSE:VLO), Patterson-UTI (NASDAQ:PTEN) and Martin Midstream (NASDAQ:MMLP) with bullish sentiments.
Valero Energy Corp (VLO)
Raymond James analyst Justin Jenkins maintained a Buy rating on Valero Energy Corp today and set a price target of $117. The company’s shares opened today at $86.03.
According to TipRanks.com, Jenkins is a 5-star analyst with an average return of 13.0% and a 74.7% success rate. Jenkins covers the Basic Materials sector, focusing on stocks such as Andeavor Logistics LP, Magellan Midstream, and Antero Resources.
Valero Energy Corp has an analyst consensus of Moderate Buy, with a price target consensus of $129.40, a 50.4% upside from current levels. In a report issued on October 12, Morgan Stanley also maintained a Buy rating on the stock with a $145 price target.
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Patterson-UTI (PTEN)
Raymond James analyst Pavel Molchanov maintained a Buy rating on Patterson-UTI today and set a price target of $22. The company’s shares opened today at $15.12, close to its 52-week low of $13.89.
According to TipRanks.com, Molchanov is a 4-star analyst with an average return of 4.4% and a 54.9% success rate. Molchanov covers the Basic Materials sector, focusing on stocks such as Evoqua Water Technologies Corp, Occidental Petroleum, and Kosmos Energy.
Currently, the analyst consensus on Patterson-UTI is a Strong Buy with an average price target of $21.94, representing a 45.1% upside. In a report issued on October 18, Merrill Lynch also resumed coverage with a Buy rating on the stock with a $23 price target.
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Martin Midstream (MMLP)
Raymond James analyst Darren Horowitz maintained a Buy rating on Martin Midstream today and set a price target of $15. The company’s shares opened today at $12.50.
According to TipRanks.com, Horowitz is a 4-star analyst with an average return of 4.1% and a 57.9% success rate. Horowitz covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners LP, Antero Midstream Partners, and EnLink Midstream Partners.
The the analyst consensus on Martin Midstream is currently a Hold rating.
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