Northern Tier Energy (NTI -2.5%) is downgraded to Hold from Buy at Cowen, which says NTI is...

|About: Northern Tier Energy (NTI)|By:, SA News Editor

Northern Tier Energy (NTI -2.5%) is downgraded to Hold from Buy at Cowen, which says NTI is nearing fair value with the benefits of its Bakken/Canadian crude slate already embedded in current valuation and given current peak cycle conditions. Concern over the rising cost of ethanol RINs could mount in 2014 upon increased ethanol blending requirements.