Dahlman Rose Initiates Coverages on CVR Energy and Delek US with Buy

Dahlman Rose initiated coverages on CVR Energy CVI and Delek US DK with Buy. At the same time, Dahlman set its price targets on CVR Energy and Delek to $30 and $20, respectfully. In a research report published today, Dahlman states, "We are initiating on CVR Energy CVI PT: $30) and Delek US DK PT: $20) with Buy ratings, noting both companies' exposure to favorable crude markets and a widened margin environment. Both companies offer investors exposure to sustainable WTI discounts with limited debt profiles and low balance sheet risk, although the smaller asset bases do imply greater operational risk." In today's trading, CVR Energy added massive 7.18% to its value and is currently standing around $19.71. Delek was less impressive, however. Its shares were up 1.5% on yesterday's close and are trading at $14.25.