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Valero Upgraded to “Buy” at UBS; Risk/Reward Looking Good (VLO)

By Dividend.com,  June 19, 2012, 09:04:08 AM EDT

Integrated oil producer Valero Energy Corporation ( VLO ) on Tuesday caught a big upgrade from analysts at UBS.

The firm boosted its rating on VLO from "Neutral" to "Buy" with a $26 price target. That target suggests a 19% upside to the stock's Monday closing price of $21.79. UBS noted the shares offer an attractive risk/reward profile at current levels.

Valero shares rose 32 cents, or +1.5%, in premarket trading Tuesday.

The Bottom Line
Shares of Valero Energy ( VLO ) have a 2.75% dividend yield, based on last night's closing stock price of $21.79. The stock has technical support in the $18-$20 price area. If the shares can firm up, we see overhead resistance around the $24-$25 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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