Wednesday, September 15, 2010

Barclays (NYSE:BCS) Reiterates "Equalweight" on Delek (NYSE:DK)

Barclays (NYSE:BCS) has reiterated its "Equalweight" on Delek US Holdings, Inc. (NYSE:DK).

"On 9/13, Delek released a new investor presentation in anticipation of their participation in the Barclays Capital CEO Energy and Power Conference on 9/15 and 9/16. In light of the company's longer than expected refining downtime in 3Q10 (14 days versus the previous estimate of 7 days), partially offset by a better than anticipated marketing margin, we lower our 3Q, 4Q and full year 2010 EPS estimates to -$0.06, -$0.14 and -$0.25, previously -$0.04, -$0.13 and -$0.20, respectively," said Barclays.

They kept a price target on Delek of $7 a share.

Delek, which engages in refining and marketing petroleum products in the United States, was at $6.81, dropping $0.07, or 1.02 percent, as of
1:40 PM EDT.

No comments:

Post a Comment