Dahlamn Rose Reiterates Hold Rating on Western Refining Inc. (WNR)

Dahlamn Rose is out with a research report this morning, where it reiterates its Hold rating on Radio One Inc. WNR.

The DR analysts noted that WNR shares have seen volatility over recent weeks given the company's combination of financial and operating leverage, with one refinery accounting for 85% of its capacity.

They added that Western remains well positioned to benefit from sustained WTI/Brent differentials, although an outage in February highlights the risks.

As for valuation, the analysts remarked, “Overall, we view WNR shares as the levered play on the WTI/Brent spread, with the company seeing significant benefits from current crude production growth in mid-con regions.”