HollyFrontier (HFC) has been initiated today with coverage from the research analysts at Oppenheimer. Oppenheimer begins this new coverage of HollyFrontier with an initial price target set at $90 dollars and rates performance of HFC as “outperform.” Oppenheimer analysts note that the company has infrastructure which is sophisticated enough to process low quality crude into high quality petroleum products which is desirable.
HFC still continues to enjoy considerable bullish momentum after free-falling in 2008. The current high on the yearly chart of HFC is $80.55, and shares today still continue to edge northward to the former high. During 2010 trading, after shares broke above 2009’s high of $33.53 there has been only a single month in which HFC trended to the downside which is very noteworthy.
HollyFrontier Corporation are principally an independent petroleum refiner that produces high value light products such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. The company has market capitalization of $3,823,003,520 and 53,312,000 shares outstanding. HFC has a 52-week high of $77.80 with the low being $24.35 dollars.
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