VLO: Valero Energy Corp. Message Board

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

VLO 179.19

+2.0%

Nov 10 3:59 PM EST

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From: Paul Senior	10/6/2007 11:31:47 AM
	of 299

From current Barron's interview with Fred Sturm, Manager, Ivy Global Natural Resources: "How are you playing the energy market? The first way is Valero Energy (VLO), the largest independent refiner in America, because its refineries can handle heavier crude oil, which enhances its margins. Every new barrel that gets produced has to get refined somewhere. We were expecting that new refinery build outs would create excess refining capacity by the end of the decade that could put pressure on the profit margins of the refineries. However, because of cost escalation, a lot of these new constructions projects have been either delayed or outright canceled. And so what we see is a confirmation of Valero's inherent asset value. How high might the stock go? We think the stock still has sufficient value to go to new all-time highs, which would take it through a level of $79, which we saw earlier this year. [It was recently about $68.] And we wouldn't be surprised, if the economy continues to grow, to see it somewhere in the $90s. "

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