Delek US price target lowered to $13.25 from $21 at UBS

UBS lowered the firm’s price target on Delek US (DK) to $13.25 from $21 and keeps a Neutral rating on the shares. The firm estimates a total EBITDA loss for Q1 of $0M vs. (23M) in Q4, with weaker refining earnings driving negative revisions vs. prior expectations, the analyst tells investors in a research note. UBS views Delek’s refining as challenged in the near-term, but sees the company growing its midstream business.