VLO: Valero Energy Corp. Message Board

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Gold/Mining/Energy : VLO: Valero Energy Corp.

VLO 177.51

-1.9%

Nov 12 3:59 PM EST

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From: manalagi	4/23/2007 10:05:34 AM
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AP Ahead of the Bell: Oil Refiners Monday April 23, 7:43 am ET Goldman Lifts View on Oil Refiners, Boosts Rating on Valero Energy NEW YORK (AP) -- A Goldman Sachs analyst on Monday boosted his rating on Valero Energy Corp., following an improved view for the entire oil refining sector, which was lifted to "Attractive" from "Neutral." Arjun N. Murti, in a client note, lifted his rating on Valero Energy to "Buy" from "Neutral," and raised his target price to $82 from $71, saying the stock joins Marathon Oil Corp. as the best positioned to benefit from a second wave of a "multi-year 'super-spike' for oil markets." Valero also joined Goldman's top-ten list of best energy stocks, replacing XTO Energy Inc., which still retains its "Buy" rating. "There will be understandable questioning of the timing of our refining upgrade from a seasonal perspective," the analyst noted. But Murti believes tight refining supply and demand balances are expected to continue through 2009, at least. Shares of Valero closed at $65.93 Friday on the New York Stock Exchange. biz.yahoo.com

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