Valvoline price target lowered to $41 from $47 at Goldman Sachs

Goldman Sachs analyst Mark Jordan lowered the firm’s price target on Valvoline (VVV) to $41 from $47 and keeps a Buy rating on the shares. Key takeaways from the company’s earnings update include a now smaller and likely lower-margin Oil Changers platform, a high effective acquisition cost per location relative to divested sites, and reduced post-deal balance-sheet flexibility, the analyst tells investors in a research note.The December 11 investor update is expected to clarify deal economics and the longer-term growth outlook, the firm says.