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Could Delek US Holdings Have A 47% Upside? Wells Fargo Thinks So

Delek US Holdings, Inc. DK reported better-than-expected third quarter results, thanks in part to the impact of hurricane season on its business. The positive financials — as well as remarks from Delek management at a Wells Fargo event last week — have turned the research firm incrementally positive on the oil logistics company. 

The Analyst 

Wells Fargo analyst Roger Read upgraded shares of Delek US Holdings to Outperform and lifted his price target from $29 to $40, suggesting roughly 47 percent upside from current levels. 

The Thesis

An updated sum-of-the-parts valuation for Delek, estimates and expectations have moved higher based on both greater and quicker savings and synergies related to the ALJ merger and sustainably wider WTI-Midland differentials, Read said.  Read more

A breakout of the rising channel is possible in the near future. 

$DK, Delek US Holdings, Inc. Common Stock / D