Goldman Sachs upgraded Delek US (DK) to Buy from Neutral with a $55 price target after assuming coverage of the name. The firm sees the company’s cost reduction efforts, small refinery exemptions, improved marketing and wholesale strategy, and growing logistics earnings driving stronger free cash flow generation. Delek’s small refinery exemptions and benefits from its self-help initiatives are underappreciated by the market, the analyst tells investors in a research note.
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