Valvoline (VVV) Stock Coverage Initiated at Monness Crespi - TheStreet

NEW YORK (TheStreet) -- Valvoline (VVV) - Get Report stock coverage was started with a "buy" rating and $27 price target at Monness Crespi on Tuesday.

The firm said Valvoline has significant growth opportunities in both its instant oil change business and international markets, the Fly reports.

Monness Crespi also believes the company deserves a premium multiple.

The Lexington, KY-based company is a provider of motor oil and automotive lubricants. Valvoline has 930 instant change locations and more than 300 automotive maintenance service centers.

Shares of Valvoline closed lower on Tuesday.

The company raised at least $660 million in its IPO last week, the Wall Street Journal reported.

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