HollyFrontier's (HFC +0.5%) price target is cut to $49 from $59 at Imperial Capital, though the...

|About: HollyFrontier Corp. (HFC)|By:, SA News Editor

HollyFrontier's (HFC +0.5%) price target is cut to $49 from $59 at Imperial Capital, though the team maintains its Outperform rating. The move comes as Imperial lowers its Q2 EPS forecast to $1.50 from $1.68 (report is on Aug. 7), thanks to unplanned downtime at certain refineries. The share prices of independent refiners are likely to remain under pressure for the next several weeks as analysts digest Q2 reports and rejigger estimates for 2013-14, says Imperial.