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Delek US assumed with an Underperform from Neutral at Mizuho
The Fly

Delek US assumed with an Underperform from Neutral at Mizuho

Mizuho analyst Nitin Kumar downgraded Delek US to Underperform from Neutral with a price target of $30, up from $25, after assuming coverage of the name. Although there is upside to the the company’s net asset value driven by an "above mid-cycle" refining outlook, the stock is trading at a premium to its refining peers, Kumar tells investors in a research note. The analyst believes there needs to be more clarity on addressing the company’s balance sheet leverage and strategic direction following recent management changes.

Published first on TheFly

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