Delek Logistics upgraded to Outperform from Market Perform at Raymond James

Raymond James analyst Justin Jenkins upgraded Delek Logistics to Outperform from Market Perform with a $45 price target. Delek is trading near the bottom of at three year range, which makes the valuation look more attractive, the analyst tells investors in a research note. The frim says the total return opportunity looks even better with a nearly 11% distribution yield. And with the bond offering from early March extending maturities, coupled with the equity raise also earlier this month, the financing profile for Delek Logistics looks much improved, adds Raymond James.