HF Sinclair downgraded at Wolfe Research as shares move above fair value

Wolfe Research downgraded HF Sinclair (DINO) to Underperform from Peer Perform with a $42 price target The strong performance year-to-date has moved the shares above the firm’s mid-cycle value with earnings momentum stalled by seasonal factors, the analyst tells investors in a research note. Wolfe says Q2 earnings momentum is “good, not great,” and expects capure rates to again be impacted by narrower crude spreads.