Valvoline price target raised to $43 from $41 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Valvoline (VVV) to $43 from $41 and keeps a Buy rating on the shares. The firm is encouraged by Valvoline’s better-than-expected Q1 earnings, particularly given the much stronger than expected system-wide same-store sales growth and adjusted EBITDA margin, the analyst tells investors in a research note. The quarter should be viewed as an encouraging sign that Valvoline is focused on delivering upon the plan that the management outlined, the firm added.