Western Refining (NYSE:WNR) Has Just Had Its Target Price Heightened by Investment Analysts at Credit Suisse to $60.00


Stock Analysis:Western Refining (NYSE:WNR) Stock Target Raised

In recent note revealed to clients and investors by Credit Suisse on 2 December, Western Refining (NYSE:WNR) had its Estimated Target Price raised to $60.00. The firm currently has a solid Outperform rating on shares.

From a total of 10 analysts covering Western Refining (NYSE:WNR) stock, 4 rate it a ”Buy”, 0 a “Sell”, and 9 a ”Hold”. This means that 31% of the ratings are positive. The highest target price is $63 while the lowest target price is $45. The mean of all analyst targets is $52.5 with a 10.17% above today’s ($45.93) stock price. Western Refining was the topic of 9 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Citigroup downgraded shares on October 21 to “Neutral” rating. Macquarie Research initiated shares with “Neutral” rating and $43 target share price in a report from a July 24. JP Morgan initiated WNR stock in a recent report from September 11 with “Neutral” rating. Finally, RBC Capital Markets maintained the stock with “Sector Perform” rating in a report issued on an August 5.

Approximately 74,670 shares of stock traded hands. Western Refining, Inc. (NYSE:WNR) has risen 2.07% since April 29, 2015 and is uptrending. It has outperformed by 2.27% the S&P500.

Western Refining, Inc. is an independent crude oil refiner and marketer of refined products. The company has a market cap of $4.30 billion. The Firm operates through four business divisions: refining, Northern Tier Energy LP (NTI), Western Refining Logistics, LP (WNRL) and retail. It has 8.42 P/E ratio. The Company’s refining segment owns and operates two refineries in the Southwest that process crude oil and other feedstocks primarily into gasoline, diesel fuel, jet fuel and asphalt.

According to Zacks Investment Research, “Western Refining, Inc. is an independent crude oil refiner and marketer of refined products headquartered in El Paso, Texas, and operates primarily in the Southwestern region of the United States, including Arizona, New Mexico, and West Texas. They have invested a significant amount of capital in refinery initiatives that will allow us to improve our crude oil processing flexibility, expand refinery capacity, increase production of higher-value refined products and satisfy certain regulatory requirements.” Get a free copy of the Zacks research report on Western Refining, Inc. (WNR).