Northland analyst Donovan Schafer initiated coverage of Vertex Energy with an Outperform rating and $15 price target. The analyst views the shares as undervalued following the company’s acquisition of a refinery in Mobile, Alabama. The refinery has a favorable geographic position and tailwinds from the Ukraine war and the COVID demand rebound, the analyst tells investors in a research note. Longer term, the firm expects Vertex’s success to be driven by its conversion of part of the refinery to produce renewable diesel.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on VTNR:
- Vertex accomplished primary objective with sale, says Craig-Hallum
- Vertex Energy sells used motor oil collection and recycling business for $90M
- Vertex Energy provides update on construction of its renewable diesel project
- Vertex Energy provides update on its Q4 financial results
- Vertex Energy call volume above normal and directionally bullish