HF Sinclair price target lowered to $40 from $45 at Mizuho

Mizuho lowered the firm’s price target on HF Sinclair (DINO) to $40 from $45 and keeps a Neutral rating on the shares. Mizuho expects a Q1 miss vs. the current consensus, with misses on EBITDA, free cash flow, and EPS of 35%, 21%, and 118%, respectively, mainly driven by the refining segment, the analyst tells investors in a research note. The firm expects other non-refining business segments Midstream, Lubricants, and Retail to have performed well, except for Renewable Diesel, which, like peers, was impacted by lower credit prices and regulatory uncertainty on prices and lower economic incentive on volumes.