Vertex Energy initiated with a Neutral at UBS

UBS analyst Manav Gupta initiated coverage of Vertex Energy (VTNR) with a Neutral rating and $6.90 price target. It will take work and time for Vertex to fully capture the benefits of the Shell (SHEL) refinery acquisition, and Gupta is 13% below the Street for 2023E EBITDA, the analyst tells investors in a research note.