HollyFrontier (HFC +4%) is upgraded to Conviction Buy with a target price raised to $49 from $36...

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

HollyFrontier (HFC +4%) is upgraded to Conviction Buy with a target price raised to $49 from $36 at Goldman Sachs, which cites its "constructive Mid-Continent refining view and a best-in-class, pure-play Mid-Continent asset base," a more diverse Cushing footprint, a commitment to returning excess cash to shareholders, and superior capital project and re-investment opportunities.