Why Valero Is A Buy After Interim Guidance
By Bret Jensen:Refiners have had a tough month as both Tesoro (TSO) and Valero (VLO) have had significant pull backs over that time span. However, I think Valero has had some positive news recently, is deeply undervalued and seems poised to bounce back in short order.Key Recent Events
- Announced a $605m charge for its Aruba refinery, which should put that overhanging albatross behind it.
- Interim guidance either the other day (which included refinery charge announcement) was above consensus.
- Its Memphis facility is now back on line.
- Citicorp just added the stock to its top picks and successful hedge fund manager Ray Dalio has it as one of his top 10 positions as well.
- Driving season is almost here.
Valero Energy - "Valero Energy Corporation operates as an independent petroleum refining and marketing company. The company operates through three segments: Refining, Ethanol, and Retail". (Business Description from Yahoo Finance)4 additional reasonsComplete Story »