Craig-Hallum analyst Eric Stine says Vertex Energy accomplished one of its primary objectives with the sale of its Heartland used oil re-refinery. The $90M sale price is towards the upper end of what the firm thought the facility would garner. With Vertex’s portfolio "now optimized," it gains further balance sheet strength for capital projects and/or for debt repayment, the analyst tells investors in a research note. The firm reiterates a Buy rating on the shares with a $12 price target.
Published first on TheFly
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