Analyst Downgrades Vertex Energy: Exploring The Uncertain Forecast And Commodity Environment
Portfolio Pulse from Nabaparna Bhattacharya
Oppenheimer analyst Noah Kaye has downgraded Vertex Energy, Inc (NASDAQ:VTNR) to Perform from Outperform due to an uncertain forecast and challenging commodity environment. Kaye has lowered FY23-24 revenue estimates and reduced FY23 sales/EPS estimates to $2.7 billion/$0.80, from $2.8 billion/ $1.41. For FY24, sales/EPS estimates have been lowered to $3.3 billion/$0.49 from $3.8 billion/$0.99.
July 26, 2023 | 6:53 pm
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Vertex Energy's stock has been downgraded by Oppenheimer due to an uncertain forecast and challenging commodity environment. The company's FY23-24 revenue and sales/EPS estimates have been lowered.
The downgrade by Oppenheimer, a well-respected analyst firm, is likely to negatively impact investor sentiment towards VTNR. The lowering of revenue and sales/EPS estimates for FY23-24 indicates a less optimistic outlook for the company's financial performance, which could put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100