BMO Capital analyst Phillip Jungwirth initiated coverage on HF Sinclair Corp (NYSE: DINO) with an Outperform rating and a price target of $65. The analyst believes DINO has lagged behind peers during the current refining upcycle and expects the company's execution to improve across refining and renewable diesel business. He also expects management to execute against its 50% adjusted net income payout target, driving capital returns of 11% in FY23 and 7% in FY24.