Craig-Hallum analyst Eric Stine raised the firm’s price target on Vertex Energy to $15 from $12 and keeps a Buy rating on the shares, arguing that its Q4 results offer "the first glimpse of the potential" of the Mobile refinery and that the company "finally reported the quarter that the Street was waiting for." Vertex’s operational guidance for Q1 implies a quarter-over-quarter step down from "the strong exit to 2022," but the firm said it sees the rest of 2023 being set to continue "demonstrating a solid conventional refining market backdrop."
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