Valero resumed with a Sell at Freedom Broker

Freedom Broker analyst Sergey Pigarev resumed coverage of Valero (VLO) with a Sell rating and $205 price target The firm believes the shares are overvalued with Valero’s distillate margins “at peak.” The stock’s current valuation reflects durability of today’s environment, and any normalization creates meaningful downside risk, the analyst tells investors in a research note.