Piper Sandler downgraded HF Sinclair (DINO) to Neutral from Overweight with a price target of $51, down from $53. The firm continues to view HF as a well positioned SMID-cap refiner given its portfolio quality, geographic footprint and free cash flow generation. However, Piper downgraded the shares citing the stock’s valuation, the company’s gasoline leverage, and limited near-term share buybacks. The firm now prefers a shift back towards the Gulf Coast into Q3, prompting the HF Sinclair downgrade.
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Read More on DINO:
- HF Sinclair price target raised to $50 from $44 at Morgan Stanley
- HF Sinclair price target raised to $53 from $43 at Piper Sandler
- HF Sinclair upgraded to Strong Buy from Market Perform at Raymond James
- HF Sinclair downgraded at Wolfe Research as shares move above fair value
- HF Sinclair downgraded to Underperform from Peer Perform at Wolfe Research