RBC Capital has decided to maintain its Outperform rating of Valero Energy (NYSE:VLO) and raise its price target from $108.00 to $120.00.
Shares of Valero Energy are trading up 3.21% over the last 24 hours, at $108.52 per share.
A move to $120.00 would account for a 10.58% increase from the current share price.
About Valero Energy
Valero Energy is one of the largest independent refiners in the United States. It operates 14 refineries with a total throughput capacity of 3.2 million barrels a day in the United States, Canada, and the United Kingdom. Valero also owns 14 ethanol plants with capacity of 1.7 billion gallons of ethanol a year and holds a 50% stake in Diamond Green Diesel, which has capacity to produce 700 million gallons per year of renewable diesel.
About Analyst Ratings
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
