Valero Energy (VLO) Receives a Buy from Raymond James
In a report released today, Justin Jenkins from Raymond James assigned a Buy rating to Valero Energy (VLO), with a price target of $96.00. The company’s shares closed last Thursday at $68.48.
According to TipRanks.com, Jenkins is a 4-star analyst with an average return of 6.6% and a 58.5% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Holly Energy Partners, and Crossamerica Partners.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Valero Energy with a $87.86 average price target, a 24.9% upside from current levels. In a report issued on April 12, Credit Suisse also maintained a Buy rating on the stock with a $90.00 price target.
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Based on Valero Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $16.6 billion and GAAP net loss of $359 million. In comparison, last year the company earned revenue of $27.88 billion and had a net profit of $1.06 billion.
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Founded in 1980, Texas-based Valero Energy Corp. manufactures and markets transportation fuels and other petrochemical products. The company operates through three business segments: Refining, Ethanol and Renewable Diesel.