HollyFrontier price target raised to $68 from $48 at Argus Argus increased its price target on HollyFrontier as the firm believes that Holly may benefit from high refiner margins longer than many anticipate due to strong U.S. onshore production growth. The firm thinks the company's management is very shareholder friendly and it maintains a Buy rating on the shares.
Oppenheimer upgrades refiners on favorable fundamentals Oppenheimer upgraded to Outperform from Perform shares of HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX) and Tesoro (TSO) saying favorable industry fundamentals will continue to support higher valuations. Wide crude differential, low natural gas prices, growing refined product exports and improved petroleum demand should drive shares of refiners higher, Opco tells investors in a research note. The firm also raised its price target for Outperform rated Valero (VLO) to $70 from $65.