Delek US +2% as Howard Weil upgrades to Focus Stock


Delek US Holdings (DK +1.9%) is upgraded to Focus Stock from Sector Outperform at Howard Weil, which sees Midland West Texas crude as a relative bright spot for downstream players with Permian exposure such as DK in the face of compressing crude differentials and margins (Briefing.com).

Given DK's market cap, the firm believes the company is under-covered by both buy side and sell side alike, thus providing an opportunity to capture the recent blowout in Midland differentials.

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