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Vertex Energy initiated with an Outperform at Northland
The Fly

Vertex Energy initiated with an Outperform at Northland

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.

Published first on TheFly

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