Dr. Duru

Alon USA Energy: Beaten Down, But Not Out

Nice call. I would add that insiders are making moves to support the stock. Alon Israel and CEO David Wiessman are making purchases.

However, what do you think of the extremely bearish opinion coming out of Lehman after the last earnings conference call: "Lehman reiterates their Negative sector rating on the refiner group and continue to think that the 2H07 marked the inflection point where the global refining market transitioned to a new multi-year downcycle. Firm is concerned that mgmt could be stretching itself too thin and do not think this is the right time for ALJ to pursue another refining acquisition. They believe the co should focus attention at bringing BSR back as well as improve their California operation. Firm cuts 2008 EPS to $(0.05) and introduces their 2009 EPS at $1.50 per share. Co cuts tgt to $15 from $21."