Morgan Stanley Maintains Overweight Rating for Valero Energy: Here's What You Need To Know

Morgan Stanley has decided to maintain its Overweight rating of Valero Energy VLO and raise its price target from $140.00 to $170.00.

Shares of Valero Energy are trading up 2.76% over the last 24 hours, at $142.29 per share.

A move to $170.00 would account for a 19.47% increase from the current share price.

About Valero Energy

Valero Energy is one of the largest independent refiners in the United States. It operates 14 refineries with a total throughput capacity of 3.2 million barrels a day in the United States, Canada, and the United Kingdom. Valero also owns 14 ethanol plants with capacity of 1.7 billion gallons of ethanol a year and holds a 50% stake in Diamond Green Diesel, which has capacity to produce 700 million gallons per year of renewable diesel.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.