CVR REFINING (CVI): At least Credit Suisse has a reasonable...

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CVR REFINING (CVI)

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michaelmerriman

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michaelmerriman

Re: michaelmerriman post# 287

Saturday, 01/10/2015 12:28:37 AM

Saturday, January 10, 2015 12:28:37 AM

At least Credit Suisse has a reasonable reason for a downgrade.

Credit Suisse Article Here

Analysts see a risk of Cushing margin compression, and they believe that CVR will struggle to compete with peers in the sector. Credit Suisse is projecting below-consensus earnings for CVR in 2015. Price target: $19.00

New pipelines coming online might narrow Cushing pricing advantage and this might do a bit to close WTI-Brent margins... but who are the peers in the sector with higher margins? Even if they get oil at Brent prices they're still a refinery and if they aren't doing stupid things with CapEx and executive pay and they maintain a reasonable level of debt, they're still going to make money and pay all profits to shareholders in the form of the dividend!

Let the stock get to $19 and continue to pay me $0.5 to $1 per share per quarter and see if I'm complaining! Still a great yield.

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