Deutsche Bank Starts HollyFrontier (HFC) at Hold

Deutsche Bank initiated coverage on HollyFrontier (NYSE: HFC) with a Hold rating and a price target of $53.00.

Analyst Ryan Todd said, "HollyFrontier remains the most profitable refiner in the sector, and with structural, long-term advantages in crude supply, it is likely to remain the most profitable for quite some time. Although we expect to see HFC benefit from a near-term bounce back in Cushing inventories and wider Midcon diffs, the challenge remains one of incremental gains. Already at 100% advantaged crude, we see few incremental drivers of cash flow growth (either in refining or midstream), and the highest exposure to crude export risk in our coverage."

For an analyst ratings summary and ratings history on HollyFrontier click here. For more ratings news on HollyFrontier click here.

Shares of HollyFrontier closed at $42.02 yesterday.

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