Delek US Shares Dropped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Delek US Holdings (NYS: DK) fell 10% today after the company was downgraded by an analyst.
So what: Analysts at Deutsche Bank downgraded shares to a hold rating from a buy rating and put a $16 price target on the stock. Global Hunter Securities also initiated coverage with a buy rating and set a $20 price target.
Now what: Deutsche Bank is going against the grain of most analysts, with Morgan Keegan also having a high $25 price target on the stock. No matter whom you're looking at, with shares trading at $12.30 as I'm writing, the upside looks strong. Shares are trading at just 7.3 times trailing earnings and four times forward earnings estimates.
Interested in more info on Delek US? Add it to your watchlist byclicking here.
At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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