Wolfe Research upgraded Delek US (DK) to Outperform from Peer Perform with a $40 price target The stock’s rally since the Environmental Protection Agency’s decision on August 22 has discounted the value of exemptions granted for 2023 and 2024, the analyst tells investors in a research note. Wolfe believes the stock is giving no credit to Delek’s future small refinery exemptions, which creates an upside case.
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