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Valero Energy Corporation Message Board

  • vlono.1fan vlono.1fan May 1, 2013 10:07 AM Flag

    S&P Valero Price Target: $52

    Keep the faith longs:

    04/30/13 04:50 pm ET ... S&P MAINTAINS STRONG BUY
    RECOMMENDATION ON SHARES OF VALERO ENERGY (VLO
    40.32*****): We keep our target price of $52, on a multiple of 4.9X
    enterprise value to our '13 EBITDA forecast, in line with the peer
    average. Based on Q1 results, we lift our '13 EPS estimate to $5.47
    from $5.42. Q1 EPS of $1.18, vs. a loss per share of $0.78, was
    above our $1.13 estimate due to higher than expected volumes. VLO
    stated that on May 1, it will spin off 80% of the outstanding shares of
    its retail segment, CST Brands, Inc., to its stockholders. We view the
    pending spin-off as consistent with VLO's plan to unlock shareholder
    value and focus on its refining business. /T.Shafi

    Fan

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