Joe Laetsch, an analyst from Morgan Stanley, maintained the Buy rating on HF Sinclair Corporation. The associated price target remains the same with $60.00.
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Joe Laetsch has given his Buy rating due to a combination of factors that suggest a positive outlook for HF Sinclair Corporation. The company’s refining segment is expected to benefit from increased benchmark cracks and higher crude throughput following maintenance, although slightly weaker capture rates are anticipated. The Lubricants & Specialties division is projected to see improved performance due to higher volumes and better market conditions, which should help reverse some of the previous quarter’s headwinds.
Despite challenges in the Renewables segment, such as declining benchmark margins and higher feedstock costs, the overall financial performance of HF Sinclair is supported by stable results in the Midstream and Marketing divisions. The company’s expected EBITDA figures exceed consensus estimates, indicating strong operational performance. These factors collectively contribute to a favorable investment thesis for HF Sinclair, justifying the Buy rating.
In another report released on October 9, Scotiabank also maintained a Buy rating on the stock with a $66.00 price target.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DINO in relation to earlier this year.