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Valero Added to Citigroup’s “Top Picks Live” List (VLO)

By Dividend.com,  April 10, 2012, 08:47:08 AM EDT

Oil refiner Valero Energy Corporation ( VLO ) on Tuesday caught some further bullish sentiment from analysts at Citigroup.

The firm maintained its "Buy" rating on VLO and added the stock to its "Top Picks Live" list with a $31 price target. That target suggests a 25% upside to the stock's Monday closing price of $24.71.

Citigroup said that VLO's valuation is attractive and the company stands to benefit from lower crude prices, particularly at its Gulf Coast refineries.

Valero shares rose 38 cents, or +1.5%, in premarket trading Tuesday.

The Bottom Line
Shares of Valero Energy ( VLO ) have a 2.43% dividend yield, based on last night's closing stock price of $24.71. The stock has technical support in the $20-$22 price area. If the shares can firm up, we see overhead resistance around the $26-$28 price levels.

Valero Energy Corporation ( VLO ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: VLO



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