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Buy, Sell or Hold: Valero Energy Corp.
Valero Energy Corp. (NYSE: VLO), the largest independent refiner in the U.S. market, is a well-known and avidly traded name. Despite being a member of the super hot energy sector, Valero has seen its stock price collapse from its 52-week high of $75.75 to Friday’s close at $34.72 (a 54% decline). The 52-week low is $29.70, and the Wall Street analyst community remains very negative on the shares of the San Antonio-based company – even though it beat analysts admittedly reduced expectations for both revenue and earning.
The $64 million question (*) is this: Is it time to buy? During the…
11Aug2008 | Money Morning | Comments Off | Continued
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