Mizuho Downgrades Valero Energy to Neutral, Raises Price Target to $173
Portfolio Pulse from Benzinga Newsdesk
Mizuho analyst Nitin Kumar downgraded Valero Energy (VLO) from Buy to Neutral but raised the price target from $150 to $173. This adjustment reflects a more cautious outlook despite acknowledging potential for higher valuation.

March 22, 2024 | 2:18 pm
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NEUTRAL IMPACT
Valero Energy was downgraded by Mizuho from Buy to Neutral, though the price target was increased from $150 to $173.
The downgrade to Neutral suggests a more cautious view on VLO's immediate growth prospects or market position, potentially due to market saturation or other risks. However, the increase in the price target to $173 indicates an expectation of solid performance and possibly higher future valuations. This mixed signal could lead to short-term market uncertainty for VLO, balancing out potential positive and negative impacts.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100