Goldman Sachs analyst Neil Mehta downgraded Delek US to Neutral from Buy with a price target of $24, down from $33. Greater clarity on the company’s steps towards realizing its sum-of-the-parts value will likely take longer than expected, especially in the context of the current volatile macroeconomic climate, the analyst tells investors in a research note. The firm also believes stronger earnings execution will be of increasing importance for investors given "heightened volatility."
Published first on TheFly
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