HollyFrontier -1.7% after Credit Suisse downgrade

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

HollyFrontier (HFC -1.7%) is downgraded to Neutral from Outperform with a $50 price target, down from $63, at Credit Suisse, which predicts the macro economy to negatively affect HFC's operational recovery.

The firm views global refiners as over-capacitated fears, and expects Middle East uncertainty to decrease the price of imports in H2 2014; due to recent crude oil spikes, it is concerned about the company's Q4 results.

Credit Suisse has cut HFC's Q2 EPS outlook by 18% and Q3 by 16%.