In recent trading, shares of CVR Refining LP have crossed above the average analyst 12-month target price of $9.25, changing hands for $9.35/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level.
As analysts expected, refinery runs were down substantially during the week ended Sept. 1, leaving crude stockpiles to increase by nearly 5 million barrels, while gasoline inventories were depleted by more than 3 million barrels.
The move comes as U.S. gasoline prices skyrocketed Thursday morning due to an East Coast pipeline shutdown by the nation's largest gasoline transporter, Colonial Pipeline Co.
While shut-in crude oil production is good for commodity prices, shut-in refineries will lead to a surplus of product and a lack of demand for electricity won't help.
Analyst ratings can sometimes be complicated, and we here at ETF Channel have noticed a bit of a paradox with CVR Refining LP . The average 12-month price target for CVRR — averaging the work of 4 analysts — reveals an average price target of $9.12/share.
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Upgrades: BXMT, CIGI, CPA, CVRR, GNRC, KNOP, MRC, NMIH, STRA
Downgrades: ANH, CAR, CYS, DLTH, EQC, MGM, MOH, SHOR
Initiations: None
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In recent trading, shares of CVR Refining LP have crossed above the average analyst 12-month target price of $7.67, changing hands for $8.55/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level.
TheStreet Quant Ratings provides fair and objective information to help you make educated investing decisions. We rate over 4,300 stocks daily and provide 5-page PDF reports for each stock. These ratings can change daily and today's changes are reflected in the email below.
If you are looking to check-up on the stocks you currently own or are looking for new ideas, you can find our full database of password-protected ratings reports in our proprietary ratings screener:
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Upgrades: DLR, ESXB, IART, NMR, PBIB, PLNT, SANW, TCK
Downgrades: AAN, ABMD, AXTA, CMC, CMPR, CVI, CVRR, DSPG, EHTH, ESSA, FCFS, NPTN, NWS, UHT, VDSI
Initiations: None
Read on to get TheStreet Quant Ratings' detailed report:
TheStreet Quant Ratings provides fair and objective information to help you make educated investing decisions. We rate over 4,300 stocks daily and provide 5-page PDF reports for each stock. These ratings can change daily and today's changes are reflected in the email below.
If you are looking to check-up on the stocks you currently own or are looking for new ideas, you can find our full database of password-protected ratings reports in our proprietary ratings screener:
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Upgrades: CVRR, TTNP, WMS
Downgrades: DAR
Initiations: None
Read on to get TheStreet Quant Ratings' detailed report: