HF Sinclair price target lowered to $63 from $67 at Piper Sandler

Piper Sandler lowered the firm’s price target on HF Sinclair (DINO) to $63 from $67 and keeps an Overweight rating on the shares. The firm says that “it is difficult to put a positive spin on DINO’s 4Q conference call,” which Piper thinks did little to minimize fallout from CEO Tim Go’s “voluntary leave” and, “frankly, did a poor job” answering the questions of the cause/potential impact of its auditor investigation into “disclosure processes”, how the audit relates to the departure of the CEO, and implications for future leadership/outlook. This overshadowed what was a challenging Q4 refining and Lubes result, the firm adds.